Finance & Accounting - Practice rest - Chapters [9 marks] Plumage Studio is a small Canadian company located in London, Ontario. The company creates handbags and home accessories from leather, linen, and other natural materials. The company uses flexible budget to control its administrative expenses. The variable admin costs and their relation to the sales are printing 2.0%, order processing 5.5%, and deliveries 4.3%. The monthly fixed admin expenses include AP staff salary $8,100, office rent $4,590 and utilities $1,080. Monthly sales are expected to range from $170,000 to $200,000. In January 2021, the actual sales were $196,000 and the actual administrative expenses were as follows: printing $3,430, deliveries 8,680 and order processing $9,800. In addition, the fixed administrative costs were AP staff salary $8,610, office rent $4,900 and utilities $1,050. Instructions Using the above information, prepare a flexible budget performance report for January 2021.19 marks)