3. Data able A 1 2 C D B The Lively Balloon Company Actual vs. Budget Performance Report For the Month Ended May 31 Master Master Budget 4 Actual Budget Variance Sales volume (number of cases 5 sold) 60,500 56,000 6 Sales revenue $ 173,200 $ 151,200 7 Less: Variable expenses 96,000 84,000 8 Contribution margin $ 77,200 $ 67,200 9 Less: Fixed expenses 63,800 63,000 10 Operating income $ 13,400 $ 4,200