Please provide a helpful step by step walkthrough for this problem. I am having issues grasping what to do. Thank you for your help.

Business Solutions's secondquarter 2022 xed budget performance report for its computer furniture operations follows. The $179,200 budgeted expenses include $116,760 in variable expenses for desks and $22,440 in variable expenses for chairs, as well as $40,000 of fixed expenses. Actual fixed expenses total $41,100. Actual Fixed Budget Results Variances Desk sales (in units) 139 145 Chair' sales (in units] 55 74 Desk sales $ 179,313 $ 135,566 $ 5J29o F Chair' sales 38,946 44,??0 L338 F Total expenses 179,268 133,398 BJIQB U Income $ 39,956 $ 41,980 $ L938 F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. {Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Income