Required information {The following information applies to the questions displayed below.) ABC Company expects to produce 21,800 units for the year ending December 31. A budget for an activity level of 21,800 units of production reflects sales of $523,200, variable costs of $65,400; and fixed costs of $142,000. Assume that actual sales for the year are $588,400 (26,600 units), actual variable costs for the year are $113,600, 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.) ABC COMPANY Flexible Budget Performance Report For Year Ended December 31 Flexible Budget Actual Results Variances Favorable/ Unfavorable 0 0 Contribution margin $ 0 $ 0 Required information {The following information applies to the questions displayed below.) ABC Company expects to produce 21,800 units for the year ending December 31. A budget for an activity level of 21,800 units of production reflects sales of $523,200, variable costs of $65,400; and fixed costs of $142,000. Assume that actual sales for the year are $588,400 (26,600 units), actual variable costs for the year are $113,600, 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.) ABC COMPANY Flexible Budget Performance Report For Year Ended December 31 Flexible Budget Actual Results Variances Favorable/ Unfavorable 0 0 Contribution margin $ 0 $ 0