Vision and Audio is a small owner-managed business that specializes in the installation of television and audio equipment for customers with high-end home theatre systems. The company has provided the following data concerning its most recent month of operations: Revenue Installer wages Selling and administrative expenses Office expenses Marketing expenses Insurance Miscellaneous expenses 1 Budgeted Budgeted Variable Fixed Component Component per Actuals for per Month Installation October $550 $52,250 $17,200 16,900 1,225 15 2,804 (1,304 fixed) 5,400 3 5,416 3,160 300 (5,112 fixed) 3,300 300 550 2 709 (538 fixed) The company uses the number of installations as its measure of activity. For example, selling and administrative expenses should be $1,225 plus $15 per job, and the actual selling and administrative expenses for October were $2,804. The company expected to do 100 installations in October, but actually did 95. Required: Prepare a comprehensive performance report for October. Assume that the static budget for October was based on an activity level of 100 jobs. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Jobs Answer is not complete. Vision and Audio Comprehensive Performance Report For the Month Ended October 31 Flexible Actual Budget Variance 95 Sales Flexible Budget Volume Variance Static Budget 95 100 Answer is not complete. Vision and Audio Comprehensive Performance Report For the Month Ended October 31 Flexible Actual Budget Variance Flexible Budget Sales Volume Variance Static Budget Jobs Revenue 95 95 100 $52,250 0None $52,250 2,750 U 55,000 Variable Expenses: Installer wages x 16,900 300 F 17,200 0 None 17,200 Selling and administrative expenses 2,804 154 U 2,650 75 F 2,725 Office expenses 5,416 269 F 5,685 15 F 5,700 3,300 140 U 3,160 0 None 3,160 Marketing expenses 300 0 None 300x 0 None 300 Insurance Total variable expenses 25,120 306 F 25,535 100 F 25,625 Office expenses 5,416 269 F 5,685 x 15 F 5,700 Marketing expenses 3,300x 140 U 3,160 0 None X 3,160 x Insurance 300x 0 None 300x 0 Nonex 300x Total variable expenses 25,120 306 F 25,535 100 F 25,625 Contribution margin 27,130 306 U 26,715 2,650 U 29,375 Less fixed expenses: Total fixed expenses 0 0 0 S $ 27,130 $26,715 29,375