i X Data Table r D 1 A B The Great Balloon Company Actual vs. Budget Performance Report For the Month Ended October 31 2 a 3 Master Budget Variance Master 4 Actual Budget 5 Sales volume (number of cases sold) 55,000 52,000 6 Sales revenue $ 188,400 $ 166,400 7 Less: Variable expenses 71,400 62,400 8 Contribution margin $ 117,000 $ 104,000 9 Less: Fixed expenses 74,500 73,000 10 Operating income $ 42,500 $ 31,000 Print Done Score: 0.24 of 5 pts 2 of 2 (2 complete) HW Score: 44.05%, 4.4 of 10 pts %E10-42B (similar to) Question Help The Great Balloon Company produces party balloons that are sold in multi-pack cases. To follow is the company's performance report in contribution margin format for October: (Click the icon to view the performance report in contribution margin format.) Read the requirements. The budgeted fixed cost for the period is $ 73,000 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 55,000 units and the budgeted sales volume of 52,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 47,000 to 65,000 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. 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 considered favorable.) The Great Balloon Company Flexible Budget Performance Report For the Month Ended October 31 Flexible Master Budget Flexible Volume Master Budget Variance Actual Variance Budget Variance Budget Sales volume Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income Choose from any list or enter any number in the input fields and then click Check Answer. ? parts remaining Clear All Check