Bay City Company's fixed budget performance report for July follows. The $587000 budgeted total expenses include $400,000 vanable expenses and $187.000 fixed expenses Actual expenses include 5177000 fixed expenses Variances sales (in units) Sales (in dollars) Total expenses Income from operations Fixed Budget 3,000 5640,000 587.000 $ 53,000 Actual Results 6.900 $ 607,200 553,000 $ 54,200 532.500 34.000 $ 1.2000 Prepare a flexible budget performance report that shows any variances between budgeted results and actual results List fixed and vanable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.) BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible budget Actuelle Valances Nod