SP 21 Serial Problem Business Solutions (Algo) LO P1 Business Solutions's second-quarter 2022 fixed budget performance report for its computer furniture operations follows. The $171,960 budgeted expenses include $118,560 in variable expenses for desks and $17,400 in variable expenses for chairs, as well as $36,000 of fixed expenses. Actual fixed expenses total $37,300. 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.)