[9 marks] ScarfLady Inc. is a Waterloo-based boutique that specializes in designing, manufacturing and selling of unique fashionable scarves and scarf necklaces. These can be worn multiple ways for different looks as well as complimenting adorned neck pieces. The company uses flexible budget to control its administrative costs. Monthly sales are expected to range from $16,000 to $18,000. Based on the currently available information, the variable and fixed administrative costs are as follow: Variable Costs Fixed costs Order 0.8% of sales Office rent $4,350 processing Freight 3.2% of sales Admin staff salary |$2,480 Consumables 1.6% of sales Insurance $420 The actual sales for January 2021 were $16,875, and the administrative expenses were order processing $128, freight $525, consumables $254, office rent $4,350, admin staff salary $2,535, and insurance $580. Instructions Prepare a flexible budget performance report for January 2021 by using the above information. (9 marks)