Using the above information, complete the following table:

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 S The Outrageous Balloon Company Actual vs. Budget Performance Report For the Month Ended December 31 3.50 Master Master Budget Actual Budget Variance 1.20 Sales volume (number of cases sold) Sales revenue 60,000 54,000 S 213,000 S 189,000 64,800 S 139,700 S 124,200 69,000 S 69,500 S 55,200 69,000 73,300 Less: Variable expenses Contribution margin Less: Fixed expenses 70,200 Operating income 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 60,000 units and the budgeted sales volume of 54,000 units. Use the original budget assumptions for sales price variable cost per unit, and fixed costs, assuming the relevant range stretches from 49,000 to 65,000 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 For accounts with a 0 balance, make sure to enter "' in the appropriate column. Label each variance as favorable (F) or unfavorable (U).) geous Balloon Company Flexible Budget Performance Report The Outra For the Month Ended December 31 Flexible Budget Variance Master Budget Variance Flexible Volume Master Actual Budget Variance Budget 54000 600 F 60000 213000 73300 139700 70200 69500 Sales volume Sales revenue Less: Variable expenses Contribution margin Less: Fixed expenses 89000] 24000 E 8500 12420015500F 1200 U 69000 55200 14300 ng income