Required information

Use the following information for the Quick Study below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

The fixed budget for $21,500$ units of production shows sales of $$473,000$; variable costs $$64,500$; and fixed costs of $$143,000.$

QS $21-4($Algo$)$ Flexible budget performance report LO P$1$

The company's actual sales were $26,500$ units at $$542,000.$ Actual variable costs were $$113,100$ and actual fixed costs were $$135,000.$

Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. $($Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.$)$

$\backslash$table$[[$Flexible Budget Performance Report$],[,$Flexible Budget,Actual Results,Variances,$\backslash$table$[[$Favorablel$],[$Unfavorable$]]],[$Sales$],[$Variable costs$],[$Contribution margin,$0,0,,],[$Fixed costs$],[$Income$,$$$,0,,]]$