Adarmes Adventures manufactures aluminum canoes. In planning for the coming year, CFO Alexis King is considering three different sales targets: 2,500 canoes, 3,000 canoes, and 3,500 canoes. Canoes sell for $800 each. The standard variable cost information for a canoe is as follows.

Direct materials		$	300
Direct labor			150
Variable overhead
Utilities			35
Indirect material			30
Indirect labor			60
Total		$	575

Annual fixed overhead cost is expected to be:

Maintenance		$	20,000
Depreciation			40,000
Insurance			27,000
Rent			30,000
Total		$	117,000

Alexis King chose to prepare a static budget based on sales of 3,000 canoes. Actual sales were 3,100 canoes at a price of $850 each. The company incurred the following costs for the year:

Direct material	$	910,000
Direct labor		435,000
Variable overhead		398,000
Fixed overhead		125,000
Total	$	1,868,000

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