S10-13 Complete a master budget performance report (Learning Objective 5) The following table contains a hypothetical partial master budget performance report for New England Fudge Company. Fill in the missing amounts. Be sure to indicate whether variances are favorable (F) or unfavorable (U) New England Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended December 31 4 Flexible Budget Flexible Budget Volume Variance Master Budget Actual Variance 6 Sales volume (number of cases sold) 13,200 13,200 12,000 8 Sales revenue ($26 per case) 9 Less variable expenses: 10 Sales expense ($2 per case sold)24,500 11 Shipping expense ($5 per case sold) 65,500 12 Contribution margin 13 Less fixed expenses: 14 Salari 15 Office rent 16 Operating income 17 338,200 343,200 312,000 26,400 66,000 250,800 24,000 60,000 228,000 248,200 12,200 3,500 $232,500 10,800 3,500 $236,500 10,800 3,500 $ 213,700 es