Bay City Company's fixed budget performance report for Julyfollows. The $594,000 budgeted total expenses include $450,000 variable expenses and $144,000 fixed expenses. Actual expenses include $134,000 fixed expenses. Variance 2.5 po Balea (in unita) Balesinde Total expenses Income from operations ri Mudunt 0.100 60,000 594,000 $ 50.000 Aet temit 7.000 $6,066 562,000 $ 61,000 $25,000 32,000 $7.000 Hin Bronce Prepare a 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 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 Actual results Variances Favlund