Beech Company produced and sold $115,000$ units of its product in May. For the level of production achieved in May, the budge amounts were: sales, $$1,370,000$; variable costs, $$837,000$; and fixed costs, $$380,000.$ The following actual financial results are available for May. Sales $(115,000$ units$)$ Variable costs Fixed costs Actual $$1,348,000803,500380,000$ Prepare a flexible budget performance report for May. $($Indicate the effect of each variance by selecting for favorable, unfavo and no variance.$)$ BEECH COMPANY Flexible Budget Performance Report For Month Ended May $31$ Flexible Budget Actual Results Variances Favorable! Unfavorable Sales Variable costs Contribution margin Fixed costs Income from operations