Required information [The following information applies to the questions displayed below.) Brodrick Company expects to produce 20,500 units for the year ending December 31. A flexible budget for 20,500 units of production reflects sales of $533,000; variable costs of $61,500; and fixed costs of $144,000. Assume that actual sales for the year are $674,000 (27,500 units), actual variable costs for the year are $113,300, and actual fixed costs for the year are $132,000. Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) BRODRICK COMPANY Flexible Budget Performance Report For Year Ended December 31 Sales Variable expenses Contribution margin Fixed expenses Income from operations Flexible Budget 715,000 82,500 632,500 144,000 488,500 Actual Results $ 674,000 113,300 560,700 132,000 $ 428,700 Variances Favorable! Unfavorable $ 41,000 Unfavorable 30,800 Unfavorable Unfavorable 12,000 Favorable $ 59,800 Unfavorable