Exercise 8-4 (Static) Preparing flexible budget performance report LO P1 Complete the following partial flexible budget performance report, and indicate whether each variance is favorable or unfavorable. The company budgets a selling price of $80 per unit and variable costs of $35 per unit. (Indicate the effect of each variance by selecting favorable, unfavorable, or no varlance.) Flexible Budget Performance Report Actual Results For Month Ended June 30 Flexible Budget (10,800 units) (10,800 units] Variances Favorable/Unfavorable Sales S 21,000 Favorable Variable costs 351,000 Contribution margin 486,000 Fixed costs 270,000 285,000 Income