96 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 Fixed Budget 1,390 $ 1,250 per unit $500 per unit $ 153,500 LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results (1,590 units) (1,590 units) Variances Actual Results 1,590 $ 2,036,000 $831,000 $ 141,000 Favorable/Unfavorable

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 voriance by selecting favorable, unfavorable, or no variance.)