Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results Budgeted Actual $435,000 S 300 unit Variable expenses $ 120 per $172,000 a unit $125,000 $122,000 Tixed expenses (total) Un to produced and sold 1,200 1,400 List variable and fixed expenses separately, (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) LEWIS CO. Flexible Budget Performance Report For Month Ended May 31 Flexible Actual variances Budget Results variances Fav./Unf