Performance Report Introduction Provide an introduction to the performance report. Performance report table Complete the following table. Expected Actual Variance $ Variance % Favourable (F) or Unfavourable (U) Sales $600,000 $620,000 $20000 3.3 F Cost of Sales $330,000 $360,000 -$30000 -9.1 U Gross Profit $270,000 $260,000 -$10,000 -3.7 U Promotional expenses $144,000 $90,000 $54,000 37.5 F Wages expenses $96,000 $62,000 $34,000 35.4 F General expenses $24,000 $31,000 -$7000 -29.2 U Total Expenses $264,000 $183,000 $81,000 30.7 F Net Profit $6,000 $77,000 $71,000 1183.3 F Variances summary Provide a summary of the variances. Variance analysis Provide an analysis of the variances and your recommendations