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Required information

Use the following information for the Quick Study below. $($Algo$)$

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The fixed budget for $20,500$ units of production shows sales of $$553,500$; variable costs of $$61,500$; and fixed costs of $$143,000.$

QS $21-4($Algo$)$ Flexible budget performance report LO P$1$

The company's actual sales were $27,200$ units at $$685,400.$ Actual variable costs were $$113,600$ and actual fixed costs were $$135,000.$

Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable.

Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.

$\backslash$table$[[$Flexible Budget Performance Report,,$],[,$Flexible Budget,Actual Results,Variances,$\backslash$table$[[$Favorable or$],[$Unfavorable$]]],[,,,,],[,,,,],[$Contribution margin,,,,$],[,,,,],[,,,,]]$