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Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances...

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Accounting

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Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Budgeted Actual Sales $ 700 per unit $1,095,000 Variable expenses $ 280 per unit $ 428,000 Fixed expenses (total) $137,eee $ 130,000 Units produced and sold 1,280 1,480 List variable and fixed expenses separately. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance) LEWIS CO Flexible Budget Performance Report For Month Ended May 31 Flexible Budget Actual Results Variances 1,2805 1,480 2801 428,000 Fay/Unr. Sales Variable expenses 137.000 130,000 Fixed expenses income from operations

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