Amazing Muffins sells its muffins to restaurants and coffee houses for an average selling price of $27 per case. The following information relates to the budget for Amazing Muffins for this year (all figures are annual totals unless otherwise noted): (Click the icon to view the budget information) During the year, Amazing Muffins actually sold 9,200 cases, resulting in total sales revenue of $256,000. Actual expenses (in total) from this year are as follows: (Click the icon to view the actual expenses) Requirement Construct a flexible budget performance report for Amazing Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Sales revenue Amazing Muffins Flexible Budget Performance Report Sales and Operating Expenses For the Year Ended December 31 ($27 per case) Variable operating expenses: Packaging expense ($5 per case sold) Shipping expense ($1 per case sold) Sales commissions (4% of sales price) Fixed operating expenses Salaries Office rent Depreciation Insurance expense Office Supplies expense Total operating expenses Data table Data table Flexible Flexible Actual Budget 9,200 cases Variance Budget 9,200 cases Volume Master Budget Budgeted sales in cases. Packaging cost per case 8,800 cases $ 5 Packaging cost. $ 47,300 Shipping expense per case $ 1 Shipping expense. 12,000 Variance 8,800 cases Sales commission expense 4% of sales price Sales commission expense $ 10,240 Salaries expense 6,900 Salaries expense. S 7,700 Office rent. $ 3,800 Office rent. $ 3.800 Depreciation S 2,500 Depreciation S 2.500 Insurance expense. 1,700 Insurance expense S 1,000 Office supplies expense $ 800 Office supplies expense S 1,400 Print Done Print Done -X