Required information Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 20,300 units of production shows sales of $568,400; variable costs of $60,900; and fixed costs of $142,000. QS 8-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 27,600 units at $722,800. Actual variable costs were $113,200 and actual fixed costs were $130,000 Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Flexible Budget Performance Report Flexible Budget Actual Results Variances Favorable! Unfavorable Sales Variable costs Contribution margin 0 0 Fixed costs Income $ 0 $ 0