Chocolate Muffins sells its muffins to restaurants and coffee houses for an average selling price of $29 per case. The following information relates to the budget for Chocolate Muffins for this year (all figures are annual totals unless otherwise noted): (Click the icon to view the budget information.) During the year, Chocolate Muffins actually sold 8,100 cases, resulting in total sales revenue of $242,900. Actual expenses (in total) from this year are as follows: B: (Click the icon to view the actual expenses.) Requirement Construct a flexible budget performance report for Chocolate 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 O, make sure to enter in a "0". A variance of zero is considered favorable.) Chocolate Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget Budget volume 8,100 cases Variance 8,100 cases Variance Master Budget 7,900 cases Sales revenue ($29 per case) Budgeted sales in cases Packaging cost per case ........ Shipping expense per case..... Sales commission expense...... Salaries expense 7,900 cases $ 1 $ 3 4% of sales price $ 7,000 $ 3,100 $ 2,500 $ 2,000 $ 500 Office rent... Depreciation........... Insurance expense .. Office supplies expense ... Packaging cost........ .....$ Shipping expense Sales commission expense......... o o Salaries expense o 9,000 26,500 9,716 7,900 3,100 2,500 1,500 1,200 Office rent................. o Depreciation............... o o Insurance expense......... Office supplies expense..... o