Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended December 31 Flexible Budget Variance Flexible Budget 13,500 Volume Variance Actual Master Budget 12,700 13,500 Sales volume (number of cases sold) 330,200 344,500 351,000 Sales revenue ($26 per caso) Loss variable expenses Sales expense (55 per case sold) Shipping expense ($3 per case sold) Contribution margin Less foxed expenses Salaries 65,900 38,600 240,000 67,500 40,500 243,000 63,500 38,100 228,600 8,800 3,200 10,300 3,200 226,500 8,800 3,200 231,000 Office rent 216,600 $ Operating income Print The following table contains a hypothetical partial master budget performance report for Fun Time Fudge Company !!! Click the icon to view the partial master budget performance report.) Fill in the missing amounts. Be sure to indicate whether variances are 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.) Fun Time Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Flexible Budget Variance Actual Flexible Budget 13,500 Volume Variance Sales volume (number of cases sold) 13,500 - 1,500 K Volume Varianco Mes 12,700 Master Budget 12,700 0 20.50 $ 344,500 11.0.01 $ 351,000 D. 2. W 330,200 Sales revenue ($26 per case) Less variable expenses: Sales expense (55 per case sold) Shipping expense (53 per case sold) Contribution margin $ 65,900 L 38,600 240,000 $ 67,500 40,500 243,000 63,500 38,100 228,600 38,100 Choose from any list or enter any number in the input fields and then click Check Answer. 1 part