Crumpled Fender Co. Flexible Budget Performance Report For Year Ending December 31, 2020 Flexible Budget Flexible Sales Volume Variance Budget Variance 41,100 Actual Results Static Budget Units $215,800 $73,500 Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income $125,800 $98,600 $29,500 Crumpled Fender Co. uses the standard cost system and provided the following information for the year ending December 31, 2020. Static Budget Actual Results Sales in units $34,800 $41,100 Sales price per unit $6.35 $6.10 Variable cost per unit $2.20 $2.40 Fixed Expenses $98,600 $100,600 Complete the flexible budget performance report and fill in the actual and static budget performance sections as well as the flexible budget and sales volume variances. In the variance sections, indicate whether it is Favorable (F), Unfavorable (U), or No Variance (N). Crumpled Fender Co. Flexible Budget Performance Report For Year Ending December 31, 2020 Flexible Budget Flexible Sales Volume Variance Budget Variance 41,100 Actual Results Static Budget Units $215,800 $73,500 Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income $125,800 $98,600 $29,500