Ranger Pro Company managers received the following incomplete performance report:

Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasons.

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RANGER PRO COMPANY Income Statement Performance Report Year Ended July 31, 2009 Flexible Budget Actual Results for Actual at Actual Flexible Budget Prices Variance Number of Output Units Sales Volume Static (Master) Variance Budget Output units 36.000 36.000 4,000 F Sales revenue $216.000 $216,000 $24,000 F Variable costs 84,000 80,000 9.000 U Fixed costs 106.000 Total costs 190,000 100.000 180,000 0 9.000 U Operating income $ 26,000 $ 36.000 $15,000 F