? : El] : education.wiley.com w pr Assessment Player Ul Application @Course Hero \\'\\" Ch 10 Asslgnment 6 Ch 10 Assignment Question 5 of7 _ /1 E Michael works in the accounting department of a local footwear manufacturer that specializes in clogs and boots. Clogs and boots typically sell for $100 and $190 per pair, respectively. Based on past experience, fashion trends, and seasonal shifts, the company expected to sell 720 pairs of clogs and 280 pairs of boots. The variable cost per pair was $52 for clogs and $81 for boots. At the end of the year, Michael evaluated the company's sales and contribution margin amounts against the budget. Actual results for the yearwere as follows. 0 Actual sales volume: clogs, 891; boots, 209. 0 Actual selling price: clogs, $111 per pair; boots, $181 per pair. 0 Actual per-unit variable costs for each product were the same as budgeted. (a) For the yearjust ended, determine the company's total revenues, total variable costs, and total contribution margin for its (1) master budget, (2) exible budget, and (3) actual income statement. Master Budget Flexible Budget Actual Total revenues $ $ $ Total variable costs $ $ $ $ $ $ 6 Total contribution margin