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 July: (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 Requirement 2. What is the budgeted variable expense per unit? 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 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 flexble budget performance report to address these questions, using the actual sales volume of 64,500 units and the budgeted sales volume of 59.000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 54,000 to 74,500 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 "O". A vanance of zero is considered favorable) question: How much of the master budget variance (calculated in Requirement 4) for operating income is due to volume being higher than expected? Requirement 6a. Using the flexible budget performance report you prepared for Requirement 5 , answer the foliowing question: How much of the master budget variance (calculated in Requirement 4) for operating income is due to volume being higher than expected? The amount of the master budget variance for operating income due to volume being higher than expected is Requirement 6b. Using the flexible budget performance report you prepared for Requirement 5 , answer the following question: How much of the master budget variance for variable expenses is due to some cause other than volume? The amount of the master budget variance for variable expenses due to some cause other than volume is Requirement 6c. Using the flexible budget performance report you prepared for Requirement 5 , answer the following question. What could account for the flexible budget variance for sales revenue? could account for the flexible budget variance for sales revenue. Requirement 6d. Using the flexible budget performance report you prepared for Requirement 5 , answer the following question: What is the volume variance for fixed expenses? Why is it this amount? (Enter a "0" for any zero amounts.) The volume variance for fixed expenses is because the flexible budget uses the amount for foxed expenses because fixed expenses are