Use this flexible budget report for questions 7-11 Flexible Actual Budget Results Sales $960,000 $972,000 Variable costs $192,000 $240,000 contribution margin 768000 732000 fixed costs 500000 490000 Net Income 268000 242000 What is the variable cost variance and is it favorable or unfavorable? There is no variance $48000 unfavorable $48,000 favorable O neither favorable or unfavorable