The following table contains a hypothetical partial master budget performance report for Trix Fudge Company. 5 (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.) Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Flexible Budget Flexible Actual Variance Budget Volume Variance Master Budget Sales volume (number of cases sold) 12,500 12,500 11,800 Sales revenue ($27 per case) $ 333,500 $ 337,500 $ 318,600 Less variable expenses: Sales expense ($5 per case sold) $ 59,900 $ 62,500 $ 59,000 Shipping expense ($2 per case sold) 24,500 25,000 23,600 Contribution margin 249,100 250,000 236,000 Less fixed expenses: Salaries 11,700 10,300 10,300 Office rent 3,200 3,200 3,200 Operating income $ 234,200 $ 236,500 $ 222,500 A B D E F 1 Trix Fudge Company 2 Flexible Budget Performance Report: Sales and Operating Expenses 3 3 For the Year Ended December 31 Flexible Budget Flexible Budget Volume Variance Master Budget 4 st Actual Variance 12,500 12,500 11,800 $ 333,500 $ 337,500 $ 318,600 5 Sales volume (number of cases sold) 6 Sales revenue ($27 per case) 7 Less variable expenses: Sales expense ($5 per case sold) $ 59,900 $ 62,500 $ 59,000 8 9 Shipping expense ($2 per case sold) 24,500 25,000 23,600 249,100 250,000 236,000 10 Contribution margin 11 Less fixed expenses: 12 Salaries 11,700 10,300 10,300 13 Office rent 3,200 3,200 3,200 14 Operating income $ 234,200 $ 236,500 $ 222,500