Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actua results. Sales Variable expenses Fixed expenses (total) Units produced and sold Budgeted 55e per unit 22e per unit $132,500 Actual $815,000 $332,000 $127,000 1,450 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and variance) LEWIS CO. Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results Variances Fav./Unf