Exercise 21-4 Preparing a flexible budget performance report LO P1

Xion Co. budgets a selling price of $80 per unit, variable costs of $35 per unit, and total fixed costs of $275,000. During June, the company produced and sold 11,300 units and incurred actual variable costs of $356,000 and actual fixed costs of $290,000. Actual sales for June were $935,000. Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance)