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Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses

Bay City Company's fixed budget performance report for July follows. The $513,000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses.

Fixed BudgetActual ResultsVariancesSales (in units)7,0005,900Sales (in dollars)$560,000$525,100$34,900UTotal expenses513,000477,00036,000FIncome from operations$47,000$48,100$1,100U

whats the flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately.(Indicate the effect of each variance by selectingfor favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.)

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