Flexible Budgeting (HP 11) Yoko Tanaka took over as CEO of Marilyn Thornhill Inc., Inc., after the untimely passing of the company's founder. The following information is available. Budget Actual Units 38,000 36,000 Sales revenue $3,040,000 $3,000,000 Less variable costs: COGS $1,159,000 $1,050,000 Salary & Wages 304,000 295,000 Administrative 36,100 34,000 Total variable costs $1,499,100 $1,379,000 Contribution margin $1,540.900 $1,621,000 Less fixed costs: Salary & Wages $800,000 $800,000 Administrative 275,000 275,000 Insurance 20,000 20,000 Total fixed costs $1,095,000 $1,095,000 Operating Income $445,900 $526,000 Required: Prepare a performance report which provides details on (1) Sales Volume Variance; and, (2) Flexible Budget Variance. Be sure to indicate whether each variance is favorable or unfavorable