When Carol Lindquist was planning Janovi's operations for this year, she prepared the following budgeted income statement at various levels of sales. The CEO decided that the company's best alternative was a budget based on a sales volume of 120,000 units. 200,000 120,000 140,000 Sales $1,600,000 $1,812,000 $2,100,000 Variable Costs Direct material 278,000 338,400 385,000 Direct labor 160,000 190,800 229,000 Overhead 360,000 435.600 509,000 Shipping 84,000 98,400 115,000 Total variable costs 882,000 1,063,200 1,238,000) Contribution margin 718,000 748,800 862,000 Fixed Costs Overhead 29,000 29,000 29,000 Rent 16,000 16,000 16.000 Insurance 11.000 11,000 11,000 Advertising 6,000 6.000 6,000 Total fixed costs Operating income 62.000 62,000 62.000 $656,000 $686,800 $800,000 The company's income statement, reflecting actual sales of 129.000 units, follows. Sales $1,947,900 Variable Costs Direct material 351,700 Direct labor 220,000 Overhead 467.900 Shipping 111,600 Total variable costs 1,151,200 Contribution margin 796,700 Fixed Costs Overhead 20,600 Rent 16,000 Insurance 12.300 Advertising 8,800 Total fixed costs 57,700 Operating income $739,000 Prepare a performance report for Janovi showing both the flexible budget and sales volume variances. (Enter all amounts as positive value. Round unit costs to 2 decimal places and final answers to O decimal places, e.g. 125. If variance is zero, select "Not Applicable and enter O for the amounts.) Units Actual Results 129000 Flexible Budget Variance Sales $ 1942900 $ Variable Costs Direct 351700 $ material Direct labora 220000 Overhead Shipping Total variable costs Contribution margin : Flexible Budget Prepare a performance report for Janovi showing both the flexible budget and sales volume variances (Enter all amounts as positive value. Round unit costs to 2 decimal places and final answers to O decimal places, eg. 125. If variance is zero, select "Not Applicable and enter O for the amounts.) Actual Results Flexible Budget Variance Flexible Budget Units 129000 Sales $ 1947900 Variable Costs Direct material Direct labor 351700 $ 220000 Overhead Shipping Total variable costs Unfavorable Not Applicable Favorable Applicable and enter O for the amounts.) Flexible Budget Sales Volume Variance 6.3. 123.11 variance is zero, select "Not Static Budget B0000 1000 Direct labor Overhead Shipping Total variable costs Contribution margin Fixed Costs Overhead Rent Insurance Advertising Total fed costs Operating income $ 1000000 00000 000000