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Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results.
Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variante by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs. Fixed Budget 1,290 $ 750 per unit $ 300 per unit $ 138,500 Actual Results 1,490 $ 1,170,000 $460,000 $ 131,000 LEWIS COMPANY Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results (1,490 units) (1.490 units) Variances Favorable/Unfavorable < Prev 7 of 8 Next >
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