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3 2 points Priv References Exercise 21-6 (Algo) Preparing flexible budget performance report LO P1 Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs For Month Ended May 31 Fixed Budget 1,360 $1,100 per unit $440 per unit $ 149,000 LEWIS COMPANY Flexible Budget Performance Report ible Budget Actual Results (1.560 units) (1,560 units) Variances Actual Results 1,560 $1,753,000 $ 694,000 $ 138,000 Favorable/Unfavorable