Levis Strauss company manufactures Jeans for men and women. The company uses a static budget process based on previous years activity. The 2020 budget is based on sales of 20000 units at 100$ per jeans. Operating income is anticipated to be 120000$. Budgeted variable costs are 64$ per unit, while fixed costs total was 600000$.

Actual income for 2020 was better than expected. The total net income (profit) was 234000$ higher than expected. Actual variable costs were 4$ lower per unit while fixed costs totaled 570000$. Actual sales was 21000 units at 104$ each.

Prepare a budget performance report comparing the budget to the actual results.