5. Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, using the actual sales volume of 52,000 units and the budgeted sales volume of 50,000 units. Use the original budget assumptions for sales price, variable cost per unit and fixed costs, assuming the relevant range stretches from 45,000 to 67 000 units n T o dudless wese questions, using the actual sales volume of 52,000 units and 000 units egin by completing the actual and master budget columns of the performance report and then the master budget variances. Then ariance is 0make sure to enter in a "0" A variance of zero is considered favorable.) The Everlasting Balloon Company Flexible Budget Performance Report For the Month Ended July 31 Flexible Master Budget Flexible Volume Master Budget Actual Variance Budget Variance Budget Variance Sales volume Sales revenue Less Variable expenses Contribution margin Less: Fixed expenses Operating income Requirement 6a. Using the flexible budget performance report you prepared for Requirement 5 answer the following question: How much A B C D 1 N The Everlasting Balloon Company Actual vs. Budget Performance Report For the Month Ended July 31 13 Master Budget Variance 4 Master Budget Actual Sales volume (number of cases 5 sold) 6 Sales revenue 52,000 50,000 $ 168,000 $ 145.000 72.500 60.000 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses $ $ 95,500 $ 85.000 64.800 64.000 10 Operating income $ 30,700$ 21,000