M 1 8.33 points Exercise 8-1A Preparing master and flexible budgets LO 8-1 Fanning Manufacturing Company established the following standard price and cost data. Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost eBook @ Hint Print $ 8.60 per unit $ 4.00 per unit $2,200 total $ 800 total Fanning planned to produce and sell 2,500 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. References 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. FANNING MANUFACTURING COMPANY Pro Forma Income Statement Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative Master Budget 2,500 Units $ 0 CH