Amazing Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Flexible Budget Flexible Sales volume (number of cases sold) Sales revenue ($27 per case) Less variable expenses: Sales expense ($5 per case sold) Shipping expense ($4 per case sold) Contribution margin Less fixed expenses Salaries Office rent COD Actual Variance 13,200 Budget 13,200 Volume Variance Master Budget 12,400 $ 349,900 $ 6,500 U$ 356,400 $ 21,600 F $ 334,800 $ 63,200 50,400 236,300) 2,800 F $ 66,000 2,400 F 52,800 1300 U 237,600 4,000 US 62,000 3,200 U 49,600 14,400 F 223,200 10,900 3,200 Operating income $ 222,200 9,600 9,600 3,200 3,200 $ 224,800 $ 210,400