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SHOW ALL YOUR WORKS FOR YOUR CALCULATIONS: Calculate "Sales commissions (2% of sales price) for Flexible Budget Variance, Sales commissions (2% of sales price) for Flexible Budget 7,900 cases, Sales commissions (2% of sales price) for Volume Variance, Sales commissions (2% of sales price) for Master Budget 7,300 cases" Chocolate Muffins sells its muffins to restaurants and coffee houses for an average selling price of $31 per case. The following information relates to the budget for Chocolate Muffins for this year (all figures are annual totals unless otherwise noted): Requirement Construct a flexible budget performance report for Chocolate Muffins for the year. Be sure to indicate whether each variance is 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) During the year, Chocolate Muffins actually sold 7,900 cases, resulting in total sales revenue of $252,500. Actual expenses (in total) from this year are as follows: X - Data Table 0 X Data Table Budoetod sales in cases ...... 7,300 cases Packaging cost per case Shipping expense per case Sales commission expense ..... 2% of sales price Packaging cost ................$ Shipping expense . ........$ Sales commission expense .......$ Salaries expense ...................$ Office rent ............ $ Depreciation ..................$ Insurance expense ..............$ Office supplies expense ...........$ 40,300 32,400 5,050 7,400 3.700 3,100 1,600 900 Salaries expense $ 7,000 Office rent Depreciation $ $ $ $ 3,700 3,100 2,000 600 Insurance expense Office supplies expense Print Done Print Done Chocolate Muffins Flexible Budget Performance Report - Sales and Operating Expenses For the Year Ended December 31 Flexible Flexible Master Actual Budget Variance Budget 7,900 cases Volume Variance Budget 7,300 cases 7,900 cases Sales revenue $ 252,500 $ 7,600 F $ 244,900 $ 18,600 F $ 226,300 ($31 per case) Variable operating expenses: Packaging expense ($5 per case sold) Shipping expense ($4 per case sold) Sales commissions (2% of sales price) 40,300 32,400 5,050 800 V 800U U 39,500 31,600 3,000 U 2,400 U GU 36,500 29,200 |

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