The following table contains a hypothetical partial master budget performance report for Fun Time 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.) Fun Time Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Data table A B E F Sales volume (number of cases sold) Actual 13,200 Variance Flexible Budget Flexible Budget 1 Fun Time Fudge Company Volume Variance Master Budget 2 Flexible Budget Performance Report: Sales and Operating Expenses 13,200 12,400 3 4 Actual For the Year Ended December 31 Flexible Budget Variance Flexible Volume Budget Variance Master Budget Sales revenue ($35 per case) Less variable expenses: $ 459,000 $462,000 $ 434,000 5 Sales volume (number of cases sold) 13,200 13,200 12,400 6 Sales revenue ($35 per case) $ 459,000 $ 462,000 $ 434,000 Sales expense ($5 per case sold) $ 64,400 $ 66,000 $ 62,000 7 Less variable expenses: Shipping expense ($3 per case sold) 39,100 39,600 Contribution margin 355,500 356,400 37,200 334,800 8 Sales expense ($5 per case sold) $ 64,400 $ 66,000 $ 62,000 Shipping expense ($3 per case Less fixed expenses: 9 sold) 39,100 39,600 Salaries Office rent 10,000 9,200 9,200 10 Contribution margin 355,500 356,400 37,200 334,800 2,800 2,800 2,800 11 Less fixed expenses: Operating income $ 342,700 $ 344,400 $ 322,800 12 Salaries 10,000 9,200 9,200 13 Office rent 2,800 2,800 2,800 14 Operating income $ 342,700 $ 344,400 $ 322,800 Print Done