Stone Canyon Muffins sells its muffins to restaurants and coffee houses for an average selling price of $27 per case. The following information relates to the budget for Stone Canyon Muffins for this year (all figures are annual totals unless otherwise noted): 5 Click the icon to view the budget information.) During the year, Stone Canyon Muffins actually sold 9,500 cases, resulting in total sales revenue of $264,100. Actual expenses (in total) from this year are as follows: E: (Click the icon to view the actual expenses.) Requirement Construct a flexible budget performance report for Stone Canyon Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). (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.) Stone Canyon Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Actual Budget Budget Volume 9,500 cases Variance 9,500 cases Variance Master Data Table - X Budget 9,300 cases Data Table Sales revenue 9.300 cases $ $ 4 Packaging cost. Shipping expense Sales commission expense 39,300 21,800 $ 2 $ ($27 per case) Variable operating expenses: Packaging expense ($4 per case sold) Shipping expense ($2 per case sold) Sales commissions (1% of sales price) Fixed operating expenses Salaries 2,641 Budgeted sales in cases Packaging cost per case Shipping expense per case Sales commission expense Salaries expense Office rent. Depreciation Insurance expense Office supplies expense 1% of sales price S 7,000 $ Salaries expense 8,500 Office rent. 3,800 $ 2,600 $ 3,800 $ 2,600 $ 2,500 S 600 Depreciation. Insurance expense. Office supplies expense...... $ 2,300 Office rent $ 1,300 Depreciation Insurance expense Office Supplies expense Total operating expenses ODDDD Print Done Print Done