The Lasting Balloon Company produces party balloons that are sold in multi-pack cases. To follow is the company's performance report in contribution margin format for March: E (Click the icon to view the performance report in contribution margin format.) Read the requirements The budgeted fixed cost for the period is $ 71,000 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 61,500 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 51,000 to 71,500 units. unts with a balance make sure to antar "O" in the annonciato 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 parent wholo column. Label each variance as favorable (F) or unfavorable (U).) Data Table The Lasting Balloon Company Flexible Budget Performance Report For the Month Ended March 31 The Lasting Balloon Company Flexible Master Actual vs. Budget Performance Report Budget Flexible Volume Master Budget For the Month Ended March 31 Actual Variance Budget Variance Budget Variance Master Sales volume 61,500 F 61,500 5500 F 56,000 5500 F Master Budget Sales rever 195,600 F F 173,600 F Actual Budget Variance 87,900 U Less: Variable expenses U 78.400 61,500 56,000 Sales volume (number of cases sold) Contribution margin 107,700 F F 95,200 F Sales revenue $ 195,600 $ 173,600 72,700 1700 Less: Fixed expenses U 71000 F 71,000 1700 U 87,900 78,400 Less: Variable expenses 35,000 F F 24,200 F Operating income Contribution margin $ 107,700 $ 95,200 72,700 71,000 Less: Fixed expenses Requirement 6a. Using the flexible budget performance report you prepared for Requirement 5, answer the following question: How much of the master budget variance (calculated in Requirement 4) for operating income is due to v $ 35,000 $ 24,200 Operating income 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 Print Done The amount of the master budget variance for variable expenses due to some cause other than volume is $ Choose from any list or enter any number in the input fields and then continue to the next