Sports, Inc., produces shirts for sports teams. The company has the following master budget income statement for the month of August:

                                                                                                                    Master Budget

                                                                                                                        (based on

                                                                                                                        18,000 units)

Sales Revenue (18,000 units at $20) ...................................................... $360,000

Variable Manufacturing Costs ............................................................... $180,000

Variable Marketing and Administrative Costs ....................................... $ 18,000

Contribution Margin

Fixed Manufacturing Costs ...................................................................... $ 80,000

Fixed Marketing and Administrative Costs .............................................. $ 20,000

The company uses the following estimates to prepare the master budget:

Sales Price........................................................................................... $20 per Unit

Sales and Production Volume............................................................. 18,000 Units

Variable Manufacturing Costs ............................................................ $10 per Unit

Variable Marketing and Administrative Costs...................................... $1 per Unit

Fixed Manufacturing Costs ........................................................................ $80,000

Fixed Marketing and Administrative Costs................................................ $20,000

Assume that the actual results for August were as follows:

                                                                                                                    Actual

Sales Price............................................................................................ $21 per Unit

Sales and Production Volume............................................................. 20,000 Units

Variable Manufacturing Costs .................................................................. $230,880

Variable Marketing and Administrative Costs............................................ $22,000

Fixed Manufacturing Costs ......................................................................... $82,000

Fixed Marketing and Administrative Costs................................................. $18,000

Compare the master budget, flexible budget, and actual results for the month of August.