Pomona Sprout Products Inc. produces a number of products, including handmade large fiberglass planters for outdoor displays. The firm, which began operations at the beginning of the current year, uses a standard cost system. The standard costs for one large planter are provided below:

Direct Materials (3kg @ C$ 8.00 per kg) C$ 24.00

Direct labor (2hrs @ C$ 15.00 per hr) C$ 30.00

Variable Overhead C$ 24.00

Fixed Overhead C$ 6.00

Standard Cost per unit C$ 84.00

The C$6.00 fixed overhead rate is based on total budgeted fixed overhead costs of C$18,000 and estimated sales of 3,000 units. There were no changes in any inventory account during the period.

The company produced and sold 3,100 units at the following costs:

Direct Materials (9,000 kg) C$ 81,270

Direct labor (6,000 hrs) C$ 78,000

Variable Overhead C$ 76,000

Fixed Overhead C$ 16,500

Total production costs incurred C$ 251,770

Prepare a complete performance report for the current year that includes the planning budget and flexible budget.