Exercise 8-1A (Algo) Preparing master and flexible budgets LO 8-1 Solomon Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.60 per unit $ 3.50 per unit $ 2,100 total $ 900 total Solomon planned to produce and sell 2,900 units. 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. Required A Required B Prepare the pro forma income statement in contribution format that would appear in a master budget. SOLOMON MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,900 Units