Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.) Answer is complete but not entirely correct. BAY CITY COMPANY Flexible Budget Performance Report Sales $ X For Month Ended July 31 Flexible Actual Variances Fav./Unf. budget results 777,200 X $ 729,200 X $ 27 800 X Unfavorable 80,400 X 114.000 33 600 X Unfavorable 696,800 615,200 X 80.400 X Unfavorable 141000 X 136,000 X 11,000 X Favorable 555 800 X $ 479,200 $ 69,400 X Untavorable Variable expenses Contribution margin Fixed expenses Income from operations earch O Bay City Company's fixed budget performance report for July follows. The $513.000 budgeted total expenses include $350,000 variable expenses and $163,000 fixed expenses. Actual expenses include $153,000 fixed expenses. Fixed Budget Actual Results Variances 5,900 0 Sales (in units) Sales (in dollars) Total expenses Income from operations 7.000 $560,000 $13,000 $ 47,000 $ 525, 190 476,000 $ 49, 180 $34,900 U 37,000 F $ 2,100 U Prepare a flexible budget performance report that shows any variances between budgeted results and actual results. List fixed and variable expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations. Round your final answers to whole dollars.) Answer is complete but not entirely correct. BAY CITY COMPANY Flexible Budget Performance Report For Month Ended July 31 Flexible Actual Variances hudnet ante Fav./Unf W search