Boston Muffins sells its muffins to restaurants and coffee houses for an average selling price of $32 per case. The following information relates to the budget for Boston Muffins for this year (all figures are annual totals unless otherwise noted): (Click the icon to view the budget information.) During the year, Boston Muffins actually sold 8,400 cases, resulting in total sales revenue of $277,000. 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 Boston 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 ($32 per case) Data table Boston Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget 8,400 cases Variance 8,400 cases Volume Variance Master Budget 7,800 cases Data table Budgeted sales in cases...... 7,800 cases Packaging cost. $ 17,600 Packaging cost per case $ 2 Shipping expense........ $ 36,000 Shipping expense per case $ 4 Sales commission expense..... $ 8,310 Sales commission expense 3% of sales price Salaries expense $ 6,800 Salaries expense $ 6,000 Office rent $ 3,600 Office rent $ 3,600 Depreciation $ 2,700 Depreciation .. $ 2,700 Insurance expense $ 1,600 Insurance expense $ 2,000 Office supplies expense $ 1,200 Office supplies expense... $ 1,100