To get a more accurate assessment the CFO of Mikes Tables believes a performance report based on a Flexible Budget would be more useful. He needs your help however. Create a flexible budget below using the information given and identify the amount of the variances as well as identify with a "(U)" unfavorable variances and with an"(F)" for favorable variances. Unit Cost Flexible Budget Actual Results Variance Sales (units) 72,500 Sales $24.00 $1,495,500 Direct Materials $6.00 $303,000 Direct Labor $5.00 $366,000 Variable Overhead $8.00 $545,000 Fixed Overhead $185,000 Total Costs $1,399,000 Net Income (Net Loss) $96,500 After filling in all blanks above please comment on (based on dollars): (1) Overall is the manager's performance "positive" or "negative" compared to the Flexible Budget? (2) What area did Orange manager perform best in? (3) What area was weakest for the Orange manager?

Please explain how to get the fixed overhead ? total costs? Net income?