The Baxter Corporation has the following budgeted and actual results.

The Baxter Corporation has the following budgeted and actual results.

Budgeted data                    Actual results 

Unit sales35,000                   Unit sales36,000 

Unit production35,000           Unit production37,000 

Fixed overhead                  Fixed overhead 

 Supervision $25,000 Supervision $23,500 

 Depreciation $40,000 Depreciation $40,000 

 Rent $20,000                 Rent                 $20,000 

Variable costs per unitVariable costs 

 Direct materials $25.00 Direct materials  $900,000 

 Direct labor $26.00 Direct labor  $950,000 

 Supplies           $0.25 Supplies           $9,000 

 Indirect labor $1.30 Indirect labor  $50,000 

 Electricity         $0.20  Electricity           $7,500 

Required:

Prepare a performance report for all costs, showing flexible budget variances (indicate F or U).