Please explain how to calculate the flexible budget! thanks

Data Table The Great Balloon Company Actual vs. Budget Performance Report For the Month Ended January 31 Master Budget Budget Variance Master Actual Sales volume (number of cases sold) Sales revenue 51,000 $ 199,500$ 178,500 91,800 $ 94,700 $ 86,700 67,000 $25,900$ 19,700 54,000 104,800 Less: Variable expenses Contribution margin 68,800 Less: Fixed expenses Operating income 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 January: EEB Click the icon to view the performance report in contribution margin format.) Read the requirements Requirement 1. What is the budgeted sales price per unit? The budgeted sales price per unit is $ Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period is $ 3.5 1.8 67000 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 54,000 units and the budgeted sales volume of 51,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 46,000 to 64,000 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. For accounts with a 0 balance, make sure to enter "O" in the appropriate column. Label each variance as favorable (F) or unfavorable (U).) Choose from any list or enter any number in the input fields and then continue to the next question. The Great Balloon Company Flexible Budget Performance Report For the Month Ended January 31 Flexible Budget Variance 0 Master Budget Variance Flexible Volume Master Actual Budget Variance Budget 51000 178500 91800 86700 67000 19700 3000 F 21000 F 13000U 8000F 1800 U 6200 F 54000 3000F Sales volume Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses Operating income 54000 199500 104800 94700 68800 25900 Requirement 6a. Using the flexible budget performance report you prepared for Requirement 5, answer the following question: How much of the master budget variance (calculated in Requirement 4) for operating income is due to volume being higher than expected? The amount of the master budget variance for operating income due to volume being higher than expected is$ Requirement 6b. Using the flexible budget performance report you prepared for Requirement 5, answer the following question: How much of the master budget variance for variable expenses is due to some cause other than volume? The amount of the master budget variance for variable expenses due to some cause other than volume is $ Requirement 6c. Using the flexible budget performance report you prepared for Requirement 5, answer the following question: What could account for the flexible budget variance for sales revenue? Vcould account for the flexible budget variance for sales revenue. Requirement 6d. Using the flexible budget performance report you prepared for Requirement 5, answer the following question: What is the volume variance for fixed expenses? Why is it this amount? (Enter a "0" for any zero amounts.) ]because the flexible budget uses the The volume variance for fixed expenses is $ expenses because fixed expenses are| amount for fixed