The Lasting Balloon Company produces party balloons that are sold in multi-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. The budgeted variable expense per unit is $ 2.10 Data table 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.) Managem originally anticipated, and (b) due to some other unexpected cause. Prepare a flexible budget performance report to address these questions, usi budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 50,000 to 68,500 units. Begin by completing the actual and master budget columns of the performance report and then the master budget variances. Then compute the f 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 favorabl The Lasting Balloon Company Flexible Budget Performance Report For the Month Ended January 31 3 - X A B C D 1 The Lasting Balloon Company rent than 2 Actual vs. Budget Performance Report hal For the Month Ended January 31 4 Actual Master Master Budget Budget Variance lar. Sales volume (number of cases 5 sold) 6 Sales revenue 58,500 $216,500 $ 55,000 192,500 7 Less: Variable expenses 128,000 115,500 8 Contribution margin 9 Less: Fixed expenses $ 88,500 $ 77,000 69,800 69,000 $ 18,700 $ 8,000 Flexible Master Budget Flexible Volume Master Budget Actual Variance 58,500 DF Budget 58,500 Variance Budget Variance 3.500 F 55,DDD 10 Operating income F Sales volume Sales revenue $ 216,500 11750 F S 204,750 $ 12.250 F $ 192,500 F 128,000 Less: Variable expenses 5150 U 122.850 7.350 U 115,500 U Contribution margin 88,500 6600 F 81,900 4.900 F 77,000 F 69,800 Less: Fixed expenses 800 U 69,000 OF 69,000 U $ 18,700 5800 S 12,900 4,900 8,000 Operating income F F F Print Done