es Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs Fixed Budget 1,220 1,420 Actual Results $ 400 per unit $ 585,000 $ 160 per unit $ 236,000 $ 128,000 $ 124,000 LEWIS COMPANY Flexible Budget Performance Report For Month Ended May 31 (1,420 units) Flexible Budget Actual Results (1,420 units) Variances Favorable/Unfavorable