The following table contains a hypothetical partial master budget performance report for Fun Time Fudge Company (Click the icon to view the partial master budget performance report) Fill in the missing amounts. Be sure to indicate whether variances are 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) Fun Time Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Flexible Flexible Budget Variance Volume Variance Actual 13,200 Budget 13.200 Sales volume (number of cases sold) Master Budget 12,200 $ 405,700 $ 409,200 $ 378,200 S Sales revenus (31 per case) Less variable expenses Sales expense (53 per case sold) Shipping expense (55 per caso sold) Contribution margin Less fixed expenses Salaries $ 38.600 63.600 303,500 JLU $ 39,000 66,000 303.600 36,600 61,000 280,600 10,100 11,600 3.200 $ 288,700 10,100 3,200 Officerent 3.200 267,300 Operating income $ 290,300 $ Fun Time Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Budget Variance Actual Budget Volume Variance Master Budget Sales volume (number of cases sold) 13,200 13,200 12,200 $ 405,700 $ 409,200 $ 378,200 $ 38,600 $ 39,600 Sales revenue (531 per case) Less variable expenses: Sales expense ($3 per case sold) Shipping expense ($5 per case sold) Contribution margin Less fixed expenses Salaries 63,600 66,000 36,600 61,000 280,600 303,500 303,600 11,600 10.100 10,100 3,200 Office rent 3,200 3,200 Operating income $ 288,700 $ 290,300 $ 267,300