Exercise 8-1A Preparing master and flexible budgets LO 8-1 Franklin Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.40 per unit $ 3.20 per unit $2,200 total $ 900 total Franklin planned to produce and sell 2,400 units. Actual production and sales amounted to 2,700 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 flexible budget... FRANKLIN MANUFACTURING COMPANY Pro Forma Income Statement Flexible Budget 2,700 Units Required A Required B Exercise 8-1A Preparing master and flexible budgets LO 8-1 Franklin Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.40 per unit $ 3.20 per unit $ 2,200 total $ 900 total Franklin planned to produce and sell 2,400 units. Actual production and sales amounted to 2,700 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. FRANKLIN MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 2,400 Units