Alt ch. 21 Test the followine fixed budget dota for t $600,000 Co. prowides Sales (20,000 units Cost of sales: Direct materials Direct labor Variable overhead $200,000 160,000 60,000 80,000 500,000 $100,000 Fixed overhead Gross profit Operating expenses Fixed 40,000 52,000 Variable 548,000 Income from operations company's actual activity for the year follows: Sales (21,000 units) The 5651,000 Cost of goods sold Oirect materials Direct labor Vanable overhead 231,000 168,000 73,500 77,500 550,000 Fixed overhead Gross profit Operating expenses: S101,000 Fined 12,000 39,500 51,500 Vanable Income from operations Prepare a flexible budget performance report for the year using the contribution margin format (Hint. In a performance report you are comparing the flexible budget (at actual production level) $49,500 to the actual figures and identifyinge the differences as variances either favorable or unfavorable.) Budget Actual Variance For U