Can you solve for the flexible budget with the information provided?

Required: 2. Prepare a flexible budget performance report for the year using the contribution margin format on the appropriate tab of your working papers. You will be "flexing" the budget to a sales level of 21,cpo. Be sure to complete all columns provided. Be sure to answer the questions below the chart in your working papers. Front Range Furniture provides the following Fixed Budget data for the year: $630,000 Sales (20,000 units; $31.50 per unit) Cost of sale: Direct materials Direct labor Variable overhead Fixed overhead Gross Profit Operating expense: Fixed Variable Income from operations $210,000 168,000 63,000 80,000 521,000 $109,000 $12,000 40,000 52,000 $57,000 $651,000 The company's actual activity for the year follows: Sales (21,000 units) Cost of goods sold: Direct materials Direct labor Variable overhead Fixed overhead Gross Profit Operating expense: Fixed Variable Income from operations $231,000 168,000 73,500 77,500 550,000 $101,000 $12,000 39,500 51,500 $49,500 Front Range Furniture Flexible Budget Performance Report Sales in Units CHAPTER 23 REVIEW Flexible Budget per Unit Budget 20,000 21,000 Variance Actual 21,000 Favorable (F) vs. Unfavorable (U) Neutral 0 31.50 0 F Sales in Dollars Variable costs: Direct materials Direct labor Variable overhead Variable operating expenses Total Variable costs Contribution Margin Fixed costs: + O oo ololo 0 0 0 0 Overhead 0 Operating expenses Total fixed costs Income from Operations 0 Neutral 0 0 0 0 0 0 Amount Favorable vs. Unfavorable Selected Variance Analysis Variable Cost Variance Fixed Cost Variance Total Cost Variance Sales Revenue Variance Average Sales price per unit Variance Analysis: Insert your analysis here. You may expand this text box as needed