Return to question of 2 Required Information Use the following information for the Quick Study below. (Static) The following information applies to the questions displayed below) The fixed budget for 20,000 units of production shows sales of $400,000; variable costs of $80,000; and fixed costs of $150,000 QS 21-4 (Static) Flexible budget performance report LO P1 The company's actual sales were 26,000 units at $480,000. Actual variable costs were $112.000 and actual fixed costs were $145,000 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.) The company's actual sales were 26,000 units at $480,000. Actual variable costs were $112.000 and actual fixed costs were $145,000 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.) Sales Variable costs Contribution margin Foxed costs Answer is not complete. Flexible Budget Performance Report Flexible Budget Actual Results Variances 52.000 $ 52,000 104.000 104.000 (52,000) (52.000) 145,000 (52.000) (197,000) Favorable! Unfavorable Unfavorable Unfavorable Unfavorable Favorable Unfavorable Income