Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget perf showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs For Month Ended May 31 Sales Variable costs Contribution margin Fixed costs Income Fixed Budget 1,210 $ 350 per unit $ 140 per unit $ 126,500 LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results (1,410 units) (1,410 units) Variances Actual Results 1,410 $ 510,000 $ 204,000 $ 123,000 Favorable/Unfavorable W

howing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, infavorable, or no variance.)