Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showin 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 Fixed Budget 1,260 Actual Results 1,460 $ 890,000 $ 600 per unit $ 240 per unit $ 364,000 $ 134,000 $128,000 LEWIS COMPANY Flexible Budget Performance Report ces For Month Ended May 31 Flexible Budget Actual Results (1,460 units) (1,460 units) Sales Variable costs Contribution margin Fixed costs Income Variances Favorable/Unfavorable Favorable Unfavorable Favorable Favorable Favorable