Question: Prepare an income statement performance report for XYZ Incorporated based on the information provided in the table below: (calculate FBV and SVV) Actual Results Static Budget Sales Price 65.00$ 64.00$ Total Sales 1,007,500.00$ 864,000.00$ Variable Costs: Direct Materials 217,000.00$ 168,750.00$ Direct Labour 279,000.00$ 270,000.00$ MOH 74,400.00$ 64,800.00$ Total Variable Costs 570,400.00$ 503,550.00$ Fixed Costs: Salaried CEO 128,000.00$ 110,000.00$ Warehouse Rent 144,000.00$ 144,000.00$ Depreciation 82,000.00$ 83,000.00$ Total Fixed Costs 354,000.00$ 337,000.00$ Operating Income 83,100.00$ 23,450.00$ XYZ Incorporated