show all working

2. Furniture Cruise Limited manufactures kitchen equipment for residential and commercial customers. The following data pertains to the company's 2020 operating budget. Units sold Selling price per unit Variable cost per unit Fixed costs Operating income Actual 35,000 $90 $45 $856,000 $719,000 Budgeted 39,000 $80 $40 $987,000 $573,000 Required: Prepare a variance analysis report with both flexible-budget and sales-volume variances (12 points)