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.) Sales volume (number of cases sold) 12,500 12,500 11,800 $ 345,200 $ 4,800 U $ 350,000 $ 19,600 F $ 330,400 $ 22,100 Sales revenue ($28 per case) Less variable expenses: Sales expense ($2 per case sold) Shipping expense ($5 per case sold) Contribution margin Less fixed expenses: 61,500 2,900 F $ 25,000 1,000 F 62.500 900 U 262,500 1,400 U $ 3,500 14,700 F 23,600 59,000 261,600 247,800 Salaries 10,600 9.800 Office rent 1,000 9,800 1,000 $ 251,700 1,000 Operating income $ 250,000 237,000 Data Table F Master Budget 11,800 A B D E 1 Old World Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses 3 For the Year Ended December 31 Flexible Budget Flexible Volume 4 Actual Variance Budget Variance 5 Sales volume (number of cases sold) 12,500 12,500 6 Sales revenue ($28 per case) $ 345,200 $ 350,000 7 Less variable expenses: 8 Sales expense ($2 per case sold) $ 22,100 $ 25,000 Shipping expense ($5 per case sold) 61,500 62,500 10 Contribution margin 261,600 262,500 11 Less fixed expenses: $ 330,400 $ 9 23,600 59,000 247,800