Required information Use the following information for the Quick Study below. [The following information applies to the questions displayed below. Brodrick Company expects to produce 21,400 units for the year ending December 31. A flexible budget for 21,400 units of production reflects sales of $449,400; variable costs of $64,200; and fixed costs of $140,000. QS 23-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $505,100 (26,100 units), actual variable costs for the year are $113,000, and actual fixed cos for the year are $134,000. Prepare a flexible budget performance report for the year. Answer is complete but not entirely correct. BRODRICK COMPANY Flexible Budget Performance Report For Year Ended December 31 Sales Variable expenses Contribution margin Fixed expenses Income from operations Flexible Actual Favorable/ Variances Budget Results Unfavorable 742,500 X $ 694,500 $ 48,000 X Unfavorable 82,500 X 113,100 % 30,600 X Unfavorable 660,000 581,400 78,600 X Unfavorable 143,000 X 134,000 9,000 X Favorable 517,000 $ 447,400 $ 69,600 X Unfavorable