Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between...

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Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 1,300 per unit Actual $2,126,000 $ 520 per unit $ 863,000 $155,000 1,400 $ 142,000 1,600 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Sales Variable expenses Contribution margin Fixed expenses Income from operations LEWIS CO. Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results Variances Fav./Unf. Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted $ 1,300 per unit Actual $2,126,000 $ 520 per unit $ 863,000 $155,000 1,400 $ 142,000 1,600 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) Sales Variable expenses Contribution margin Fixed expenses Income from operations LEWIS CO. Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results Variances Fav./Unf.