The Everlasting 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: (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 3.10. Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.80 Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period is $ 63,000 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 54,500 units and the budgeted sales volume of 52,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 47,000 to 64,500 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. 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.) The Everlasting Balloon Company Choose from any list or enter any number in the input fields and then click Check Answer. ? X The Everlasting Balloon Company produces party balloons that are sold in multi-pack cases. To follow is the company's perforpanco conort in contribution marain format for Lanuar (Click the icon to view the performance report in contribution margin format.) i Data Table Read the requirements. amounts to the nearest whole dollar. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to A B The Everlasting Balloon Company 1 Flexible Budget Performance Report The Everlasting Balloon Company For the Month Ended January 31 Actual vs. Budget Performance Report For the Month Ended January 31 Flexible Master D 2 3 Budget Flexible Volume Master Budget Master Budget Master Budget Variance Actual 4 Variance Budget Variance Budget Variance Actual 54500 54500 52,000 Sales volume 5 Sales volume (number of cases sold) 54,500 6 Sales revenue $ 186,200 $ Sales revenue 186200 161,200 Less: Variable expenses 102100 7 Less: Variable expenses 102,100 93,600 Contribution margin 84100 8 Contribution margin $ 84,100 $ 67,600 63900 Less: Fixed expenses 9 Less: Fixed expenses 63,900 63,000 20200 10 Operating income $ 20,200 $ 4,600 Operating income Choose from any list or enter any number in the input fields and then click Check Answer. Print Done