Webb Company manufactures and sells jackets. Budgeted data for 20,000 jackets are given below. Webb Company Planning budget For the year 2020 Budgeted units sold 20,000 Revenue ($122 per unit) $24,40,000 Expenses: Direct material ($60g) 12,00,000 Direct manufacturing labor cost ($16q) 320,000 Wages and salaries (50,000+ $20q) 450,000 Electricity ($15,000+ $10q) 215,000 Insurance ($12,000) 12,000 Utilities ($5000+ $5q) 105,000 Shipping ($2q) 40,000 Budgeted net operating income 98.000 Actual data for the year ended 2020 is as follows: Actual units sold 18,000 Revenue 21,60,000 Expenses: Direct material 10,44,000 Direct manufacturing labor cost 360,000 Wages and salaries (50,000+ $20q) 428,000 Electricity ($15,000+ $10q) 231,000 Insurance ($12,000) 12,000 Utilities ($5000+ $5q) 77,000 Shipping ($2q) 18.000 Budgeted net operating income/(loss) (10.000) Required: Prepare a flexible budget performance report for the year 2020