1: Budget information 2: Actual expenses During the year, Amazing Muffins actually sold 7,900 cases, resulting in total sales revenue of $236,300. Budgeted sales in cases Packaging cost per case....... Shipping expense per case Sales commission expense ..... Salaries expense. Office rent. Depreciation... $ Insurance expense $ Office supplies expense ........ $ Packaging cost.. Shipping expense. Sales commission expense Salaries expense. Office rent.... $ $ Depreciation Insurance expense. Office supplies expense.... 7,700 cases 4 3 5% of sales price 7,000 3,600 2,500 2,300 800 $ 32,900 $ 25,600 $ 11,815 $ 7,500 3,600 2,500 1,700 1,100 $ $ $ $ 7. Amazing Muffins sells its muffins to restaurants and coffee houses for an average selling price of $29 per case. The following information relates to the budget for Amazing Muffins for this year (all figures are annual totals unless otherwise noted): View the budget information.¹ View the actual expenses (in total) from this year.² Read the requirement.³ (Enter the variances as positive numbers. Label each variance as favorable (F) or unfavorable (U), in the input field after the amount you enter. If the variance is 0, make sure to enter in a "0". A variance of zero is considered favorable.) Sales revenue ($29 per case) Less variable expenses: Packaging expense ($4 per case sold) Shipping expense ($3 per case sold) Sales commissions (5% of sales price) Contribution margin Less fixed expenses: Salaries Office rent Depreciation Insurance expense Office Supplies expense Operating income Amazing Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 1: Budget information Actual 7,900 cases Flexible Budget Variance (1) F/U (3) (5) (7) (9) (11) (13) (15) (17) (19) (21 Flexible Budget 7,900 cases Volume Variance (2) F/U (4) (6) (8) (10) (12) (14) (16) (18) (20) (22 Master Budget 7,700 cases