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 variance by selecting favorable, unfavorable, or no variance.) Fixed Budget Actual Results Sales (units produced and sold) 1,250 1,450 Sales (in dollars) $ 550 per unit $ 815,000 Variable costs $ 220 per unit $ 332,000 Fixed costs $ 132,500 $ 127,000

LEWIS COMPANY
Flexible Budget Performance Report
For Month Ended May 31	Flexible Budget (1,450 units)	Actual Results (1,450 units)	Variances	Favorable/Unfavorable