The following table contains a hypothetical partial master budget performance report for New England Fudge Company. Fill
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н New England Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended December 31 Flexble Budget Flexible Variance Master Actual Volume Variance Budget 13,200 343,200 Budget 12,000 6 Sales volume (number of cases sold) 13,200 8 Sales revenue ($26 per case) 9 Less variable expenses: Sales expense ($2 per case sold) 312,000 338,200 24,000 60,000 26,400 66,000 24,500 65,500 10 Shipping expense ($5 per case sold) 11 12 Contribution margin 248,200 250,800 228,000 13 Less fixed expenses: 14 10,800 Salaries 12,200 232,500 10,800 3,500 236,500 Office rent 15 16 Operating income 17 213,700
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