Thomas Co. provides the following fixed budget data for the year: $600,000 Sales (20,000 units) Cost of sales: Direct materials Direct labor Variable overhead Fixed overhead Gross profit Operating expenses: Fixed Variable Income from operations $200,000 160,000 60.000 80.000 500.000 $100,000 $ 12.000 40.000 52.000 $ 48,000 $651.000 The company's actual activity for the Year follows Sales (21.000 units) Cost of goods sold: Direct materials $231.000 Direct labor 168,000 Variable overhead 73.500 Fixed overhead 77.500 Gross profit Operating expenses Fixed 12.000 Variable 39,500 Income from operations 550.000 S101.000 51.500 S 19.500 Prepare a flexible budget performance report for the year using the contribution margin format 12pt Paragraph BIU ART?v O words