Could you please show the process

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 60,500 units and the budgeted sales volume of 57,000 units. Use the original budget assumptions for sales price, variable cost per unit, and fixed costs, assuming the relevant range stretches from 52,000 to 65,500 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". A variance of zero is considered favorable.)

The Everlasting Balloon Company
Flexible Budget Performance Report
For the Month Ended December 31
		Flexible						Master
		Budget		Flexible	Volume		Master	Budget
	Actual	Variance		Budget	Variance		Budget	Variance
Sales volume
Sales revenue
Less: Variable expenses
Contribution margin
Less: Fixed expenses
Operating income

	A	B	C	D
1	The Everlasting Balloon Company
2	Actual vs. Budget Performance Report
3	For the Month Ended December 31
4		Actual	Master Budget	Master Budget Variance
5	Sales volume (number of cases sold)	60,500	57,000
6	Sales revenue	$209,100	$188,100
7	Less: Variable expenses	124,000	114,000
8	Contribution margin	$85,100	$74,100
9	Less: Fixed expenses	70,800	69,000
10	Operating income	$14,300	$5,100