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Lanco Industries has a relevant range extending to 32,000 units each month. The following performance report provides information about Lanco's budget and actual performance for

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Lanco Industries has a relevant range extending to 32,000 units each month. The following performance report provides information about Lanco's budget and actual performance for September. (Click the icon to view the performance report.) Requirement Fill in all missing numbers in the table. Be sure to label any variances as favorable or unfavorable. (Round intermediary calculations to the nearest cent. 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.) Lanco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget 32,000 Output units 25,000 Sales revenue $ 243,000 $ 5,500 F Less: Variable expenses 182,500 $ 195,200 Contribution margin Less: Fixed expenses 18,000 23,500 Operatina income Data table . B C D E F 1 Lanco Industries 2 3 Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Volume Actual variance Budget Variance Master Budget 4 5 Output units 25,000 ? 32,000 6 Sales revenue $ 243,000 $5,500 F ? ? ? 7 Less: Variable expenses 182,500 ? ? ? $ 195,200 8 Contribution margin ? ? ? ? ? 9 Less: Fixed expenses 18,000 ? ? ? 23,500 ? ? ? 10 Operating income ? ? Print Done

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