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Use the following information for the Quick Study below. (Algo) [The following information applies to...

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Accounting

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Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] The fixed budget for 20,500 units of production shows sales of $553,500; variable costs of $61,500; and fixed costs of $141,000. QS 21-3 (Algo) Flexible budget income calculation LOP1 If the company actually produces and sells 26,800 units, calculate the flexible budget income. QS 21-4 (Algo) Flexible budget performance report LO P1 The company's actual sales were 26,800 units at $682,600. Actual variable costs were $113,600 and actual fixed costs were $131,000. Prepare a flexible budget performance report. Indicate whether each variance is favorable or unfavorable. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.)

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