Ranco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Volume Actual variance Budget Variance 26,000 Master Budget 31,000 Output units Sales revenue $ 5,300 F 251,000 $ 179,400 $ 190,650 Less: Variable expenses Contribution margin Less: Fixed expenses 16,500 25,500 Operating income Ranco Industries has a relevant range extending to 31,000 units each month. The following performance report provides information about Ranco'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. (Enter the variances as positive numbers. If the variance is 0, make sure to enter in a "0". Label each variance as favorable (F) or unfavorable (U). Round intermediary calculations to the nearest cent.) Ranco Industries Flexible Budget Performance Report: Sales and Operating Expenses For the Month Ended September 30 Flexible budget Flexible Volume Actual variance Budget Variance 26,000 Master Budget 31,000 Output units $ 5,300 F Sales revenue Less: Variable expenses Contribution margin 190,650 251,000 $ 179,400 N 16,500 N N Less: Fixed expenses 25,500 Operating income