Cicchetti 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 December: 
Required:
Prepare the company's flexible budget performance report for December. Label each variance as favorable (F) or unfavorable (U).
Definitions:
Express Authority
Authority granted to an agent in clear, definite terms, verbally or in writing, by the principal in an agency relationship.
Legal Representative
An individual or entity authorized to act on behalf of another in legal matters or proceedings.
Incapacity
The lack of legal ability to act, often due to age, mental condition, or lack of legal authority.
Apparent Authority
The appearance or impression of authority given by a principal to an agent, leading others to believe the agent has actual authority.
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