C D B The Lively Balloon Company Actual vs. Budget Performance Report For the Month Ended July 31 A 1 2 3 4 Master Master Budget Actual Budget Variance 56,000 52,000 Sales volume (number of cases 5 sold) 6 Sales revenue 7 Less: Variable expenses 8 Contribution margin 9 Less: Fixed expenses 10 Operating income $ 198,800 $ 176,800 71,900 62,400 $ 126,900 $ 114,400 $ EA 66,800 66,000 60,100 $ 48,400