1 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) 1, 490 1, 609 Sales (in dollars) $ 1, 300 per unit $ 2,126, 060 Variable costs $ 520 per unit $ 863,600 Fixed costs $ 155, 080 4 142,000 LEWIS COMPANY Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results (1,600 units) Variances Favorable/Unfavorable [1.600 units) Sales