Tajiri Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of May: 
Required:
Prepare the company's flexible budget performance report for May. Label each variance as favorable (F) or unfavorable (U).
Definitions:
Probability Values
Numerical measures indicating the likelihood of a specific event occurring, ranging between 0 and 1.
Penny Tossed
An experiment often used to explain basic concepts of probability, usually involving the outcomes of flipping a coin.
Probability Values
Numerical measures ranging from 0 to 1, representing the likelihood or chance of a specific event occurring.
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