- X Data table A B C D The Blowing Balloon Company 2 Actual vs. Budget Performance Report 3 For the Month Ended May 31 Master Master Budget 4 Actual Budget Variance Sales volume (number of cases 5 sold) 53,000 50,000 6 Sales revenue $ 185,000 $ 170,000 7 Less: Variable expenses 109,500 100,000 8 Contribution margin $ 75,500 $ 70,000 9 Less: Fixed expenses 68, 100 67,000 10 Operating income $ 7,400 $ 3,000 Print DoneThe Blowing Balloon Company produces party balloons that are sold in multipack cases. Following is the company's performance report in contribution margin format for May: a (Click the icon to View the performance report in contribution margin format.) Read the requirements. The budgeted sales price per unit is $ 3-40 . Requirement 2. What is the budgeted variable expense per unit? The budgeted variable expense per unit is $ 2-00 . Requirement 3. What is the budgeted fixed cost for the period? The budgeted fixed cost for the period is 5 57.000 . 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 exible budget performance report to address these questions, using the actual sales volume of 53,000 units and the budgeted sales volume of 50,000 units. Use the original budget assumptions for sales price, variable cost per unit, and xed costs, assuming the relevant range stretches from 45,000 to 58,000 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. Label each variance as favorable (F) or unfavorable (U). if the variance is 0, make sure to enter in a '0". Avariance of zero is considered favorable.) The Blowing Balloon Company Flexible Budget Performance Report For the Month Ended May 31 Flexible Master Budget Flexible Volume Master Budget Actual Variance Budget Variance Budget Variance Sales volume 53,000 0 F 53,000 3000 F 50,000 3000 F Sales revenue $ 185,000 F F 5 170,000 F Less: Variable expenses 109'500 U U 1001000 U Contribution margin 75,500 F F 70,000 F Less: Fixed expenses 68,100 1,100 U 67,000 0 F 67,000 U Operating income $ 7'400 F F 5 3,000 F