Stenback Company Flexible Budget Performance Report For the Year Ended July 31, 2018 Flexible Sales Actual Results Budget Flexible Volume Variance Budget Variance Static Budget Units Sales Revenue 39,000 (a) 39,000 4,000 F (g) 221,000 (b) $ 221,000 $ 24,000 F (h) Variable Expenses 88,000 (c) 81,000 9,000 U (i) Contribution Margin 133,000 (d) 140,000 15,000 F (j) Fixed Expenses 109,000 (e) 108,000 0 (k) Operating Income $ 24,000 (1) $ 32,000 $ 15,000 F (1) Stenback Company managers received the following incomplete performance report: Click the icon to view the incomplete performance report.) Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning. Complete the performance report. (Enter a "0" for any zero balances. For any $0 variances, leave the Favorable (F)Unfavorable (U) input blank.) Stenback Pro Company Flexible Budget Performance Report For the Year Ended July 31, 2018 Flexible Sales Actual Budget Flexible Volume Static Results Variance Budget Variance Budget Units 39,000 39,000 4,000 F Sales Revenue $ 221,000 $ 221,000 $ 24,000 F Variable Expenses 88,000 81,000 9,000 U Contribution Margin 133,000 140,000 15,000 F Fixed Expenses 109,000 108,000 0 Operating Income $ 24,000 $ 32,000 $ 15,000 F