1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June.

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 Fixed Budget 1,240 $ 500 per unit $ 200 per unit $ 131,000 Actual Results 1,440 $ 735,000 $ 300,000 $ 126,000 LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results Variances (1,440 units) (1,440 units) For Month Ended May 31 Favorable/Unfavorable