Data Table h contribu The Everlasting Balloon Company Actual vs. Budget Performance Report For the Month Ended March 31 lumn. La Master ... Master Budget P Actual Budget Variance - Sales volume (number of cases sold) 62,500 57,000 Sales revenue 176,700 85,500 Less: Variable expenses Contribution margin IL TIL LILL $ 199,700 $ 95,000 $ 104,700 $ 66,700 $ 38,000 $ Less: Fixed expenses 91,200 65,000 26,200 Operating income Print Done Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (U.) Management would like to determine the portion of the master budget variance that is (a) due to volume being different than originally anticipated, and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, using the actual sales volume of 62,500 units and the budgeted sales volume of 57,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 52,000 to 72,500 units. Begin by completing the actual and master budget columns of the performance report and then the master budget variances. Then compute the flexible budget column and the remaining variance columns. (Round all amounts to the nearest whole dollar. For accounts with a 0 balance, make sure to enter "0" in the appropriate column. Label each variance as favorable (F) or unfavorable (U).) The Everlasting Balloon Company Flexible Budget Performance Report For the Month Ended March 31 Flexible Master Flexible Master Budget Budget Variance Volume Variance Actual Budget Budget Variance Sales volume Sales revenue Less: Variable expenses Contribution margin The Everlasting Balloon Company Flexible Budget Performance Report For the Month Ended March 31 Flexible Master Budget Volume Master Budget Flexible Budget Actual Variance Variance Budget Variance Sales volume Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income