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.

Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.

	Fixed Budget		Actual Results
Sales (units produced and sold)	1,360		1,560
Sales (in dollars)	$ 1,100	per unit	$ 1,753,000
Variable costs	$ 440	per unit	$ 694,000
Fixed costs	$ 149,000		$ 138,000

LEWIS COMPANY Flexible Budget Performance Report \begin{tabular}{|l|l|l|l|l|} \hline For Month Ended May 31 & FlexibleBudget(1,560units) & ActualResults(1,560units) & Variances & FavorableorUnfavorable \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & \\ \hline \end{tabular}