Performance Report Propel Company budgeted the following amounts: Variable costs of production: Direct materials 2 kilograms @ 0.75 per kilogram Direct labour 0.8 hr. @ $21.00 per hour Variable overhead 0.8 hr. @ $2.45 Fixed overhead: Materials handling $6,800 Depreciation $3,200 At the end of the year, Propel had the following actual costs for production of 4,400 units: Direct materials $ 6,550 Direct labour 74,100 8,722 Variable overhead Fixed overhead: Materials handling 6,890 Depreciation 3,200 Required: Prepare a performance report using a budget based on the actual level of production. In the variance type column, type "F" for favourable and "U" for unfavourable. If the variance is zero, enter ("0") in the variance amount column and "N" for neither in the variance type column. (Note: Be sure to use capital letters.) Use a minus sign to enter negative values. Propel Company Performance Report Actual Budgeted Variance Variance Type (F or U or N) Units produced Direct materials $ Direct labour Variable overhead Fixed overhead: Materials handling Depreciation .. Total