The Following Table Contains A Hypothetical Partial Master Budget Performance Report For Old World 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

 

The following table contains a hypothetical partial master budget performance report for Old World 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 "0". A variance of zero is considered favorable.) Old World Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Sales volume (number of cases sold) Flexible Budget Flexible Actual Variance Budget Volume Variance Master Budget 13,000 13,000 11,700 Sales revenue ($35 per case) $ 449,000 $455,000 409,500 Less variable expenses: Sales expense ($4 per case sold) $ 49,800 $ 52,000 ' 46,800 Shipping expense ($1 per case sold) 10,600 13,000 11,700 Contribution margin 388,600 390,000 351,000