E10-26A (similar to) Echo Canyon Muffins sells its muffins to restaurants and coffee houses for an average selling price of $27 per case. The following information relates to the budget for Echo Canyon Muffins for this year (all figures are annual totals unless otherwise noted): (Click the icon to view the budget information.) During the year, Echo Canyon Muffins actually sold 8,900 cases, resulting in total sales revenue of $248,500. Actual expenses (in total) from this year are as follows: (Click the icon to view the actual expenses.) Budgeted sales in cases ....... 8,400 cases Packaging cost per case S 2 Shipping expense per case $ 3 Sales commission expense ..... 5% of sales price Salaries expense $ 6,400 Office rent $ 3,800 Depreciation $ 2,800 Insurance expense $ 2,400 Office supplies expense 600 Packaging cost ....... 18,700 Shipping expense ..... $ 28,900 Sales commission expense ....... 12,425 Salaries expense 7,900 Office rent 3,800 Depreciation 2,800 Insurance expense 1,600 Office supplies expense 800 Requirement Construct a flexible budget performance report for Echo Canyon 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.)