The Great Balloon Company produces party balloons that are sold in mult-pack cases. Following 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 Data table 1 D 1 2 The Great Balloon Company Actual vs Budget Porformance Report For the Month Ended January 31 3 Master Budget Variance Master Budget Actual 4 Sales volume (number of cases 5 sold 6 sales revenue 7 Loss: Variable expenses Contribution margin 9 Less: Fixed expenses 10 Operating income 60,000 56.000 $ 177.800 156.000 00.2001 67.2001 S 07.000 00.000 73.300 72.000 $ 24,300 $ 17.600 Requirement 1. What is the budgeted sales price per unit? Print Done Help me solve this Video Get more help Check answer The Great Balloon Company produces party balloons that are sold in multi-pack cases. Following is the company's performance report in contibestion margin format for January Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable (.) 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 56.000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs. assuming the relevant range stretches from $1,000 to 70,000 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 al amounts to the nearest whole dollar Label each variance as favorable {F) or unfavorable (0) If the variance is 0, make sure to enter in a "U". A variance of zero is considered favorable) The Great Balloon Company Flexible Budget Performance Report For the Month Ended January 31 Flexible Master Budget Flexible Volume Master Budget Actual Variance Budget Variance Budget Variance Sales volume 10000 60000 S6000 4000 Sales reven 177800 Low Variable expert Contribution margin Les Fixed expenses Operating income 400 Help me solve this Video Get more help Clear all Check