Beech Company produced and sold 108,000 units in May. For the level of production in May, budgeted amounts were sales. $1,200,000; variable costs, $832,000, and fixed costs, $340,000 The following actual results are available for May Actual Results Sales (188,000 units) $ 1,181, eee Variable costs 882,500 Fixed costs 340, eee Prepare a flexible budget performance report for May, Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or 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