Exercise 15-2 Preparing master and flexible budgets LO 15-2 Adams Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.10 per unit $ 3.50 per unit $3,000 total $ 900 total Adams planned to produce and sell 2,200 units. Actual production and sales amounted to 2,400 units. Required a. Prepare the pro forma income statement in contribution format that would appear in a master budget. b. Prepare the pro forma income statement in contribution format that would appear in a flexible budget. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. ADAMS MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,200 Units Required A Required B. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a flexible budget. ADAMS MANUFACTURING COMPANY Pro Forma Income Statement Flexible Budget 2,400 Units