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! Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 21,900 units of production shows sales of $547,500; variable costs of $65,700; and fixed costs of $142,000. QS 23-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,100 units at $606,500. Actual variable costs were $113,200 and actual fixed costs were $133,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable/ Unfavorable Sales $ 652,500 $ 78,300 costs Contribution margin 574,200 Fixed costs 142,000 Income 432,200 $ F $ 606,500 $ 493,300 133,000 360,300 $ 46,000 Unfavorable 34,900 Unfavorable 80,900 Unfavorable 9,000 Favorable 71,900 Unfavorable