3 1 oints 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 For Month Ended May 31 Sales Flexible Budget (1,400 units) S 1,368,000 Fixed Budgeted 1,200 $ $ 300 per unit $ 120 per unit LEWIS COMPANY Flexible Budget Performance Report Actual Results (1,400 units) $ 1,395,000 $ 125,000 Answer is not complete. 547,200 820,800 143,000 677,800 $ 556,000 839,000 134,000 705,000 $ Actual Results 1,400 $ 435,000 $ 172,000 $ 122,000 $ Variances 27,000 8,800 18,200 9,000 27,200 Favorable/Unfavorable Favorable Unfavorable Favorable Favorable Favorable 33333

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. (Indicote the effect of the variance by selecting favorable, unfavorable, or no vorionce.)