E23-16 Preparing a flexible budget performance report Murphy Company managers received the following incomplete performance report MURPHY COMPANY Flexible Budget Performance Report For the Year Ended July 31, 2018 Flexible Sales Actual Budget Flexible Volume Static Results Variance Budget Variance Budget 35,000 5,000 F (g/ 35,000 (a) Units Sales Revenue Variable Expenses Contribution Margin Fixed Expenses Operating Income $219,000 (b) $219,000 $27,000 F (h) 85,000 () 134,000 (d) 135,000 14,000 F 0 105,000 (e) 100,000 29,000 () 35,000 $ 14,000 F (0 84,000 13,000 U ( Complete the performance report. Identify the employee group that may deserve praise and the group that may be subject to criticism. Give your reasoning E23-17 Preparing a flexible budget performance report Top managers of Marshall Industries predicted 2018 sales of 14,800 units of its pr