Part 3 of 4 Points: 0.39 of 1 Sav Echo Canyon Muffins sells its muffins to restaurants and coffee houses for an average selling price of $34 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.) Requirement Construct a flexible budget performance rep for Echo Canyon Muffins for the year. Be sur to indicate whether each variance is favorab (F) or unfavorable (U). (Enter the variances a positive numbers. Label each variance as Echo Canyon Muffins Flexible Budget Performance Report - Sales and Operating Expenses Data table Budgeted sales in cases .... Packaging cost per case....... $ Shipping expense per case... 7,700 cases 1 3 Sales commission expense .... 4% of sales price Salaries expense 69 $ 6,700 Print Done 1000 Data table Sales commission expense Salaries expense 4% of sales price em ct $ 69 6,700 C Office rent...... Depreciation 69 69 $ 4,000 ate nfa 2,900 nu Insurance expense.. 69 $ 1,600 Office supplies expense.. $ 1,100 K are annual totals unless otherwise noted): (Click the icon to view the budget information.) During the year, Echo Canyon Muffins actually sold 8,100 cases, resulting in total sales revenue of $283,500. Actual expenses (in total) from this year are as follows: (Click the icon to view the actual expenses.) C fo to (F po fav is C zer irem Packaging cost... Shipping expense....... $ 8,900 truct $ 26,500 cho C icate Sales commission expense...... $ 11,340 unfa Salaries expense..... Office rent... I..... .... $ ve nu 8,100 SA $ 4,000 2.000 Opera Data table Sales commission expense. $ 11,340 Salaries expense..... .... $ 8,100 Office rent..... .... $ 4,000 Depreciation. .... $ 2,900 Insurance expense.... .... $ 1,400 Office supplies expense 69 $ 1,700 Echo Canyon Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget Volume 8.100 cases Variance 8.100 cases Variance 7.7 Sales revenue 8,100 cases Variance 8,100 cases Variance. 7,700 cases 283,500 $ 8.100 F 275,400 $13,600 F $ 261,800 ($34 per case) Variable operating expenses: Packaging expense ($1 per case sold) 8,900 800 U 8,100 400 U 7,700 Shinninn avnanes /2 nar rasa Shipping expense ($3 per case sold) 26,500 2,200 U 24,300 1,200 U 23,100 Sales commissions (4% of sales price) 11,340 324 U 11,016 544 U 10,472 Fixed operating expenses: Salaries 4000 Office rent Fixea operating expenses: Salaries Office rent. Depreciation Insurance expense Office Supplies expense