Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance repor

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Lewis Company Reports The Following Fixed Budget And Actual Results For May Prepare A Flexible Budget Performance Repor 1 (24.19 KiB) Viewed 8 times

Lewis Company reports the following fixed budget and actual results for May. Prepare a flexible budget performance report showing variances between budgeted and actual results. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.) Sales (units produced and sold) Sales (in dollars) Variable costs Fixed costs For Month Ended May 31 Fixed Budget 1,320 $ 900 per unit $360 per unit $ 143,000 LEWIS COMPANY Flexible Budget Performance Report Flexible Budget Actual Results Variances (1,520 units) (1,520 units) Actual Results 1,520 $ 1,395,000 $ 556,000 $ 134,000 Fav./Unf.