Thomas Ca, provides the following fixed budget data for the year $600,000 500.000 $100,000 52.000 $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 40.000 Income from operations The company's actual activity for the year follows: Sales (21.000 units) Cost of goods sold: Direet 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 S101.000 51.500 $19.500 Prepare a flexible budget performance report for the year using the contribution margin format