The following table contains a hypothetical partial master budget performance report for Trix Fudge Company (Click the icon to view the partial master budget performance report.) Fill in the missing amounts. Be sure to indicate whether variances are favorable (F) or unfavorable (U). (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U). If the variance is 0, make sure to enter in a "O". A varlance of zero is considered favorable.) Trix Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Flexible Budget Varlance Actual Flexible Budget 13,000 Volume Variance Master Budget 11,700 Sales volume (number of cases sold) 13,000 S 332,500 $ 5,500'U S 338,000 $ 33.800F $ 304,200 23,400 Sales revenue ($26 per case) Less variable expenses: Sales expense ($2 per case sold) Shipping expense ($1 per case sold) Contribution margin Less fixed expenses: Salaries S 25.200 10.600 296.700 800' F $ 26,000 13,000 2,300 U 299,000 2,600 US 1.300'u 2,400 F 11,700 269,100 29.900 F 12,000 10,500 1,000 Office rent 10,500 1,000 S 287,500 1,000 $ 283,700 S Operating income 257,600 A B D E F 1 2 Trix Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended December 31 Flexible Budget Flexible Volume Actual Variance Budget Variance 3 Master Budget 4 5 Sales volume (number of cases sold) 13,000 13,000 11,700 6 Sales revenue ($26 per case) $ 332,500 $ 338,000 $ 304,200 7 Less variable expenses: 8 Sales expense ($2 per case sold) $ 25,200 $ 26,000 $ 23,400 10,600 13,000 11,700 9 Shipping expense ($1 per case sold) 10 Contribution margin 296,700 299,000 269,100 11 Less fixed expenses: 12 Salaries 12,000 10,500 10,500 13 Office rent 1,000 1,000 1,000 14 Operating income $ 283,700 $ 287,500 $ 257,600