Echo Canyon 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 Echo Canyon Muffins for this year (all figures are annual totals unless otherwise noted): E (Click the icon to view the budget information.) During the year, Echo Canyon Muffins actually sold 8,600 cases, resulting in total sales revenue of $282,600. Actual expenses (in total) from this year are as follows: (Click the icon to view the actual expenses.) 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.) Echo Canyon Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Master Actual Budget Volume Budget Variance Budget 7,900 cases 8,600 cases 8,600 cases Variance Sales revenue ($32 per case) o X i X i Data Table Data Table Packaging cost $ 26,100 Budgeted sales in cases 7,900 cases $ 3 18,800 Shipping expense.. Sales commission expense..... Packaging cost per case Shipping expense per case $ 2 2,826 Sales commission expense Salaries expense. $ 6,700 1% of sales price 6,300 $ Office rent Salaries expense 3,900 Office rent Depreciation 3,300 3,900 $ Insurance expense 2,100 Depreciation 3,300 Insurance expense. $ 2,400 Office supplies expense 1,000 Office supplies expense 500 Print Done Print Done