Beech Company produced and sold 111,000 units in May. For the level of production in May, budgeted amounts were sales, $1230,000, variable costs. $850,000, and fixed costs, $270,000. The following actual results are available for May. Actual Results Sales (111,000 units) $ 1,196,000 Variable costs 813,500 Fixed costs 270,000 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 0 0 Contribution margin $ 0 $ 0