The Great Balloon Company produces party balloons that are sold in multi-pack cases. Following is the company's performance report in contribution margin format for October. (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 $ 3.20 Requirement 2. What is the budgeted variable expense per unit? $ 2.00 The budgeted variable expense per unit is Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period is $ 69,000 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 60,000 units and the budgeted sales volume of 58,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 53,000 to 65,000 units. Begin by completing the actual and master budget columns of the performance report and then the master budget variances. Then 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 The Great Balloon Company Flexible Budget Performance Report For the Month Ended October 31 Data table rest A B C D Flexible Master 1 The Great Balloon Company Budget Actual Varlance Flexible Budget Volume Variance Master Budget 2 Actual vs. Budget Performance Report Budget Variance 3 For the Month Ended October 31 60000 Master Sales volume Master Sales revenue 204600 4 Actual Budget Budget Variance 124500 Less: Variable expenses Sales volume (number of cases 5 sold) 60,000 58,000 Contribution margin 80100 6 Sales revenue $ 204,600 S 185,600 70200 Less: Fixed expenses 7 Less: Variable expenses 124,500 116,000 Operating income 9900 8 Contribution margin $ 80,100 $ 69,600 9 Less: Fixed expenses 70,200 69,000 Get more help . 10 Operating Income $ 9,900 S 600 er