Chocolate 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 Chocolate Muffins for this year (all figures are annual totals unless otherwise noted): View the budget information. View the actual expenses (in total) from this year. Read the requirement. (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U), in the input field after the amount you enter. If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Sales revenue ($32 per case) Chocolate Muffins Budget information Actual expenses Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Budgeted sales in cases 8,500 cases Packaging cost. $ 27,000 Flexible Flexible Actual 8,900 cases Budget Variance Budget 8,900 cases Volume Variance Master Budget Packaging cost per case Shipping expense per case.....$ Sales commission expense $ 3 Shipping expense.. $ 10,800 1 Sales commission expense. $ 14,645 5% of sales price Salaries expense.. $ 7,500 8,500 cases Salaries expense $ 6,000 Office rent $ 3,400 Office rent. $ 3,400 Depreciation $ 2,600 Depreciation $ 2,600 Insurance expense. $ 1,500 Insurance expense $ 2,000 Office supplies expense $ 1,400 Office supplies expense $ 1,300 During the year, Chocolate Muffins actually sold 8,900 cases, resulting in total sales revenue of $292,900. 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). Print Done - X Print Done Print Done