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 20,500 units for the year ending December 31. A flexible budget for 20,500 units of production reflects sales of $451,000; variable costs of $61,500; and fixed costs of $144,000. QS 21-4 Flexible budget performance report LO P1 Assume that actual sales for the year are $566,200 (27,600 units), actual variable costs for the year are $113,500, and actual fixed costs for the year are $134,000. Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Contribution margin BRODRICK COMPANY Flexible Budget Performance Report For Year Ended December 31 Flexible Budget Actual Results Variances Favorable/ Unfavorable