x Data table A B D E F 1 Fun Time Fudge Company 2 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) 12,900 12,900 6 Sales revenue ($25 per case) $ 317,700 $ 322,500 Master Budget 11,600 $ 290,000 7 Less variable expenses: 8 $ 35,800 $ 38,700 $ Sales expense ($3 per case sold) Shipping expense ($2 per case sold) 34,800 23,200 9 24,800 25,800 10 Contribution margin 257,100 258,000 232,000 11 Less fixed expenses: 12 Salaries 10,800 10,300 10,300 13 Office rent 2,600 2,600 2,600 14 Operating income $ 243,700 $ 245,100 $ 219,100 Print Done 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.) positive numbers. Label each varlance Fill in the missing amounts. Be sure to indicate whether varlances are favorable (F) or unfavorable (U), (Enter the variances "O". A variance of zero is considered favorable.) favorable (F) or unfavorable (U). If the varlance is O, make sure to enter in a Fun Time Fudge Company Flexible Budget Performance Report: Sales and Operating Expenses For Year Ended December 31 Flexible Budget Flexible Budget Actual Variance Volume Variance Master Budget 11,600 Sales volume (number cases sold) 12,900 12,900 $ 317,700 $ 322,500 $ 290,000 Sales revenue ($25 per case) Less variable expenses: Sales expense (S3 per case sold) Shipping expense (S2 per case sold) Contribution margin $ 35,800 $ $ 38,700 25,800 258,000 34,800 23,200 24.800 257.100 232,000