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ercises 14-2, 14-3] 14-23 Flexible Budgets and Operating-Income Variance Analysis; Spreadsheet Application The follow -ing information is available for Brownstone Products Company for the month of July Actual Master Budget Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 3,800 $53,200 19,000 16,000 7,700 10,000 4,000 $60,000 16,000 15,000 8,000 9,000 Required 1. Set up a spreadsheet to compute the uly ssie ve variance and the flexible-budget variance for the month in terms of both contribution mainnd operating income 2. Discuss implications of these variances on sirstegic cost management for Brownstone. 3. Configure your spreadsheet so that it will allow the firm to prepare pro forma budgets for activities within its relevant range of operations. Use your spreadsheet to prepare a flexible budget for each of the following two output levels: a. 3,750 units. b. 4,150 units. (CMA Adapted)