Problems $-$ Chapters $21$ and $22$

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Save & Exi

Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. $($Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.$)$

$\backslash$table$[[$Sales $($units produced and sold$),$Fixed Budget,Actual Results$],[$Sales $($in dollars$),1,370,1,570],[$Variable costs,$$1,150$ per unit,$$11,828,000$