Exercise $8-1$A $($Algo$)$ Preparing master and flexible budgets LO $8-1$

Adams Manufacturing Company established the following standard price and cost data.

Adams planned to produce and sell $2,800$ unlts. Actual production and sales amounted to $3,000$ 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.

Prepare the pro forma income statement in contribution format that would appear in a master budget.