please explain the steps

Thomas Co. provides the following fixed budget data for the year: S600,000 160.000 30 S100.000 Sales (20.000 units) Cost of sales Direct materials $200.000 Direct labor Variable on erhead 60,000 Fised overhead 80 DO Gross profit Operating expenses Ficed $ 12.000 Variable 40.000 Incene from operations The company's actual antivity for the year follows Sales21.000 unit Cost of goods sold Direct materials $23.00 Direct labe 168.000 Variable cha 7500 Fixed overhead 117300 * VNH TH H Operating spenses Fod 12000 table Income from pratos 52000 48.000 $631,000 SA STO1.000 515 53 Prepare a flexible budget performance report for the year using the contribution margin format. Thomas Co. provides the following fixed budget data for the year: $600.000 500.000 S100.000 10.000 32.000 S 48.000 Sales (20.000 units) Cost of sales Direct materials $200,000 Direct labor 160,000 Variable overhead 60.000 Fixed overhead 80.000 Gross profit Operating expenses Fixed $ 12.000 Variable Income from operations The company's actual activity for the year follows Sales (21.000 unit) Cost of goods sold Direct materials $231.000 Direct labor 168,000 Variable overhead 73.500 Fixed overhead 77,500 Gross profit Operating expenses : Fixed 12.000 Variable 39.500 Income from operations $651.000 550.000 SIO1.000 51.500 49.500 Prepare a flexible budget performance report for the year using the contribution margin format