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 Sales revenue ($31 per case) $ 368,900 Less variable expenses: A B C D E F 1 Fun Time Fudge Company Flexible Budget Sales volume (number of cases sold) Actual 13,200 Variance Flexible Budget 13,200 2 Volume Variance Master Budget 3 Flexible Budget Performance Report: Sales and Operating Expenses For the Year Ended December 31 11,900 Flexible Budget Flexible Volume Variance Budget Variance Master Budget $ 404,400 $409,200 13,200 11,900 $ 409,200 $ 368,900 4 Actual 5 Sales volume (number of cases sold) 6 Sales revenue ($31 per case) $ 13,200 404,400 Sales expense ($5 per case sold) $ 63,800 $ 66,000 $ 59,500 7 Less variable expenses: Shipping expense ($2 per case sold) 24,500 26,400 23,800 8 Sales expense ($5 per case sold) $ 63,800 $ 66,000 $ 59,500 Contribution margin 316,100 316,800 285,600 9 Shipping expense ($2 per case sold) 24,500 26,400 23,800 10 Contribution margin 316,100 316,800 285,600 11 Less fixed expenses: 12 Salaries 11,200 9,900 9,900 13 Office rent 3,200 3,200 3,200 $ 14 Operating income 301,700 $ 303,700 $ 272,500 Print Done