Prepare a budgeted income statement (pro forma) for the three-month period ending September 30th using the absorption costing approach. [ACC-311-02] 9. Prepare a master budget balance sheet (pro forma) as of September 30th. [ACC-311-02] II. Reporting A. Analyze Data 1. Briefly summarize each department budget and note any large variances. [ACC-311-03] 2. Explain two variances that might cause concern or prompt further analysis. [ACC-311-03] B. Executive Brief Presentation 1. Create an executive briefing presentation in which you briefly summarize all budgets. Include all supporting documentation as addendums to the brief. [ACC-311-03]