"Tuwuuyuu muu vor COM Vio lu Requirements 4 and 5. Compute the master budget variances. Be sure to indicate each variance as favorable (F) or unfavorable ( eing different than originally anticipated, and (b) due to some other unexpected cause. Prepare a flexible budget performance repa 4,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant rang i X Data Table s Itc egin by completing the actual and master budget columns of the performance report and then the master budget variances. Then hole dollar. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "0". A variance of A B D 1 The Blowing Balloon Company Flexible Budget Performance Report 2 The Blowing Balloon Company Actual vs. Budget Performance Report For the Month Ended July 31 For the Month Ended July 31 3 Flexible Master Master Budget Variance Budget Flexible Volume Master Budget Actual Variance Budget Variance Variance Budget 54,000 Master 4 Actual Budget 5 Sales volume (number of cases sold) 56,500 54,000 6 Sales revenue $ 210,000 $ 189,000 56,500 Sales volume F F 2500 F Sales revenue $ 210,000 F $ 189,000 21000 F 7 Less: Variable expenses 79,700 70,200 Less: Variable expenses 79,700 U 70,200 9500 U 8 Contribution margin $ 130,300 $ 118,800 Contribution margin 130,300 F. 118,800 11500 F 9 Less: Fixed expenses 70,600 69,000 Less: Fixed expenses 70,600 U 69,000 1600 U 10 Operating income $ 59,700 $ 49,800 $ 59,700 49,800 Operating income 9900 Print Done hoose from any list or enter any number in the input fields and then click Check