Refer to the information in Problem 21-1B. Tohono Company's actual income statement for 2015 follows. Problem 21-2B Preparation and analysis of a flexible budget performance report TOHONO COMPANY Statement of Income from Operations For Year Ended December 31,2015 P1 A1 $3,648,000 Sales (24,000 units) Cost of goods sold Direct labor Machinery repairs (variable cost) Depreciation-machinery... 360,000 60,000 250,000 55,0002.443,000 1.205,000 Plant manager salaries Gross profit Selling expenses Packaging .. .. Shipping Sales salary (annual) 90,000 124,000 162.000 376,000 General and administrative expenses Advertising expense Salaries 104,000 232,000 100,000 Entertainment expense 436,000 Income from operations S 393,000 Required heck (1)Variances: Fixed1. Prepare a flexible budget performance report for 2015. sts, $45,000 U. Income. Analysis Component 0,600 F 2. Analyze and interpret both the (a) sales variance and (b) direct materials cost variance. Refer to the information in Problem 21-1B. Tohono Company's actual income statement for 2015 follows. Problem 21-2B Preparation and analysis of a flexible budget performance report TOHONO COMPANY Statement of Income from Operations For Year Ended December 31,2015 P1 A1 $3,648,000 Sales (24,000 units) Cost of goods sold Direct labor Machinery repairs (variable cost) Depreciation-machinery... 360,000 60,000 250,000 55,0002.443,000 1.205,000 Plant manager salaries Gross profit Selling expenses Packaging .. .. Shipping Sales salary (annual) 90,000 124,000 162.000 376,000 General and administrative expenses Advertising expense Salaries 104,000 232,000 100,000 Entertainment expense 436,000 Income from operations S 393,000 Required heck (1)Variances: Fixed1. Prepare a flexible budget performance report for 2015. sts, $45,000 U. Income. Analysis Component 0,600 F 2. Analyze and interpret both the (a) sales variance and (b) direct materials cost variance