Sweet Muffins sells its muffins to restaurants and coffee houses for an average selling price of $35 per case. The following information relates to the budget for Sweet Muffins for this year (all figures are annual totals unless otherwise noted): View the budget information. View the actual expenses (in total) from this year. Read the requirement. (Enter the variances as positive numbers Actual expenses Budget information Requirement Construct a flexible budget performance report for Sweet Muffins for the year. Be sure to indicate whether each variance is favorable (F) or unfavorable (U). Sweet Muffins Flexible Budget Performance Report - Sales and Operating Expenses \begin{tabular}{ccccc} & Flexible & Flexible & & Master \\ Actual & Budget & Budget & Volume & Budget \\ 7,500 cases & Variance & 7,500 cases & Variance & 7,100 cases \\ \hline \end{tabular} Sales revenue ( $35 per case) $270,500$8,000F$$262,500$14,000F$248,500 Less variable expenses: Packaging expense ( $3 per case sold) Shipping expense ( $4 per case sold) Sales commissions (5% of sales price) Contribution margin