Return to question 2 Beech Company produced and sold 111,000 units of its product in May. For the level of production achieved in May, the budgeted amounts were: sales, $1,380,000; variable costs, $841,000; and fixed costs, $330,000. The following actual financial results are available for May. 2 points Sales (111,000 units) Variable costs Fixed costs Actual $1,355,000 804,500 330,000 Prepare a flexible budget performance report for May. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Answer is complete but not entirely correct. BEECH COMPANY Sales Variable costs Contribution margin Flexible Budget Performance Report For Month Ended May 31 Flexible Actual Favorable! Variances Budget Results Unfavorable $ 1,392,545 $ 1,355,000 $ 37,454 X Unfavorable 841,000 804,500 36,500 Favorable 551,545 550,500 1,045 X Favorable 330,000 330,000 0 No variance IS 221,545 220,500 S 1,045 X Favorable Fixed costs Income from operations