Legorreta 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 November: 
Required:
Prepare the company's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U).
Definitions:
Canadian Law
The legal framework within Canada, including the constitution, statutes, regulations, and common law that governs the country and its citizens.
Solvency
The ability of an entity to meet its long-term financial commitments and obligations.
Restructuring
The process of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable or better organized for its present needs.
Divestiture
The action of a company selling or disposing of an asset or subsidiary as a strategic business decision.
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