The following table contains a hypothetical partial master budget performance report for

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Fudge Company.

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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 Flexible Actual Variance Budget Volume Variance Master Budget Sales volume (number of cases sold) 13,200 13,200 12,300 Sales revenue ($31 per case) 402,700 $409,200 381,300 Less variable expenses Sales expense ($1 per case sold) Shipping expense ($2 per case sold) 11,000 23,500 368,200 13,200 26,400 369,600 12,300 24,600 344,400 Contribution margin Less fixed expenses 9,200 1,000 $359,400 Salaries 9,700 1,000 357,500 9,200 1,000 334,200 Office rent Operating income