Prepare a PLANNED BUDGET for the month of December 2022 for your imaginary company assuming any level of activity.

Prepare a SUMMARY OF ACTUAL RESULTS for the month of December 2022 for your imaginary company assuming any level of activity different from planned level of activity. That means, if you prepare a planned budget for 1000 units, your actual results should be for more than or less than 1000 units.

Prepare a FLEXIBLE BUDGET for the actual level of activity for the month of December 2022 for your imaginary company.

Prepare a PERFORMANCE REPORT (by comparing actual results with flexible budget) and shows therein REVENUE AND SPENDING VARIANCES.