'The following summary data are from a performance report for Hyland Company for the month of August, during which $10,000$ units were produced. The budget reflects the company's normal capacity of $9,800$ units.Actual CostsBudgetDirect MaterialsDirect LaborVariable OverheadFixed Overhead$$123,700$$$181,200$$$38,500$$$47\mathrm{.}750$$$122,500$$$173,950$$$36,750$$$47,000$Total$$391,150$$$380,200$What is the general implication of the current performance report above and calculate the variances of each expense category. Determine whether each variance is favorable or unfavorable.b$.$Review the performance report using a flexible budget and calculate the variances of each expense category.Determine whether each variance is favorable or unfavorable.