Question: Cole Pro Company managers received the following incomplete performance report:Variable ExpensesUnitsActualResultsFlexibleBudgetVarianceStaticBudgetFlexibleBudgetSalesVolumeVarianceSales RevenueContribution MarginFixed ExpensesOperating Income39,000(a)(b)8,000F$ 11,000$ 20,000108,0000$ 214,000F$ 19,00086,0008,000COLE PRO COMPANYFlexible Budget Performance ReportFor the

Cole Pro Company managers received the following incomplete performance report:Variable ExpensesUnitsActualResultsFlexibleBudgetVarianceStaticBudgetFlexibleBudgetSalesVolumeVarianceSales RevenueContribution MarginFixed ExpensesOperating Income39,000(a)(b)8,000F$ 11,000$ 20,000108,0000$ 214,000F$ 19,00086,0008,000COLE PRO COMPANYFlexible Budget Performance ReportFor the Year Ended July 31, 2016128,00011,00039,000$ 31,000103,000$ 214,00080,000134,000(c)(d)(e)(f)(h)(g)(i)(j)(k)(l)UFFComplete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning.

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