Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) For Quarter Ended June 30 Desk sales Chair sales Variable expenses Contribution margin Fixed expenses Income BUSINESS SOLUTIONS Flexible Budget Performance Report Flexible Budget Actual Results Variance $ 193,750 $ 192,200 $ (1,550) 35,990 147,620 36,905 Favorable/Unfavorable Unfavorable 915 Favorable Unfavorable Unfavorable Unfavorable Unfavorable Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $172,610 budgeted expenses include $122,180 in variable expenses for desks and $16,430 in variable expenses for chairs, as well as $34,000 of fixed expenses. Actual fixed expenses total $35,200. Fixed Budget Actual Results Variances Desk sales (in units) 149 155 Chair sales (in units) Desk sales Chair sales Total expenses 53 61 $ 186,250 31,270 172,610 $ 192,200 36,905 181,620 $ 5,950 F 5,635 F 9,010 U Income $ 44,910 $ 47,485 $ 2,575 F Required: Prepare a flexible budget performance report that shows variances between budgeted results and actual results. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) BUSINESS SOLUTIONS Flexible Budget Performance Report