SP 21 Serial Problem Business Solutions (Algo) LO P1 Business Salutians's second quarter 2022 fixed budget perfarmance report for its computer furniture operations follows. The \$175,200 budgeted experses include $123,120 in variable expenses far desks and $17,080 in variable expenses for chairs, as well as $35,000 of foed expenses. Actual fixed expenses total $36,500. Required: Prepare a flexible budget performance report that shaws variances between budgeted results and actual results. (lindicate the effect of each varlance by selecting favorable, unfavorable, or no variance.)