Adarmes Adventures manufactures aluminum canoes. In planning for the coming year, CFO Alexis King is considering three different sales targets: 1,000 canoes, 1,500 canoes, and 2,000 canoes. Canoes sell for $650 each. The standard variable cost information for a canoe is as follows.

Direct materials		$	225
Direct labor			110
Variable overhead
Utilities			15
Indirect material			45
Indirect labor			30
Total		$	425

Annual fixed overhead cost is expected to be:

Maintenance		$	45,000
Depreciation			36,000
Insurance			28,000
Rent			57,000
Total		$	166,000

Alexis King chose to prepare a static budget based on sales of 1,800 canoes. Actual sales were 1,850 canoes at a price of $640 each. The company incurred the following costs for the year:

Direct material	$	413,700
Direct labor		205,200
Variable overhead		167,800
Fixed overhead		150,000
Total	$	936,700

Prepare a performance report for the year that shows the flexible budget and sales volume variances.