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 May: (Click the icon to view the performance report in contribution margin format.) Read the requirements. Requirement 1. What is the budgeted sales price per unil? The budgeted sales price per unit is $ Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.20 Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period Is S 72.000 Requirements 4 and 5. Corpule the master budgel variaribes. Be sure to indicate each variance as favorable (F) or unfavorabile (L.) Management would like la delerine the portion of the master bursgel variance that is a due to volurne being different than originally anticipated and (b) due to some other unexpected causo Prepare a flexible budeat performance report to address these questions, using the actual sales volume of 55 500 units and the budgeted sales volume of 52,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 47,000 to 70.500 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 coller. For accounts with a O balance, make sure to enter 'O' in the appropriate column. Label each variance as favorable (F) or unfavorable (US) The Lasting Balloon Company Flexible Budget Performance Report For the Month Ended May 31 i Data Table Flexible Budget Varlance Flexible Budget Volume Variance Master Budget Master Budget Varlance The Lasting Balloon Company Actual vs. Budget Performance Report For the Month Ended May 31 Actual Sales volume Master Sales revenue Less: Variable expenses Contribution margin Master Budget Budget Variance Actual Sales volume (number of cases sold) 55,500 52,000 Less: Fixed expenses $ Operating income 159,400 $ 71.400 140,400 62.400 Sales revenue Lees: Variable expenses Contribution margin Less: Fixed expenses $ 88,000 $ 73.700 14,300 $ 78,000 72,000 6,000 $ Operating income Print Done 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 May: (Click the icon to view the performance report in contribution margin format.) Read the requirements. Requirement 1. What is the budgeted sales price per unil? The budgeted sales price per unit is $ Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 1.20 Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period Is S 72.000 Requirements 4 and 5. Corpule the master budgel variaribes. Be sure to indicate each variance as favorable (F) or unfavorabile (L.) Management would like la delerine the portion of the master bursgel variance that is a due to volurne being different than originally anticipated and (b) due to some other unexpected causo Prepare a flexible budeat performance report to address these questions, using the actual sales volume of 55 500 units and the budgeted sales volume of 52,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 47,000 to 70.500 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 coller. For accounts with a O balance, make sure to enter 'O' in the appropriate column. Label each variance as favorable (F) or unfavorable (US) The Lasting Balloon Company Flexible Budget Performance Report For the Month Ended May 31 i Data Table Flexible Budget Varlance Flexible Budget Volume Variance Master Budget Master Budget Varlance The Lasting Balloon Company Actual vs. Budget Performance Report For the Month Ended May 31 Actual Sales volume Master Sales revenue Less: Variable expenses Contribution margin Master Budget Budget Variance Actual Sales volume (number of cases sold) 55,500 52,000 Less: Fixed expenses $ Operating income 159,400 $ 71.400 140,400 62.400 Sales revenue Lees: Variable expenses Contribution margin Less: Fixed expenses $ 88,000 $ 73.700 14,300 $ 78,000 72,000 6,000 $ Operating income Print Done