Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Required: Actual 3,800 $ 53,200 Master Budget 4,000 $ 60,000 19,000 16,000 7,700 10,000 16,000 15,000 8,000 9,000 1. What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,750 units. 4,150 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 What was the master budget variance for July? Was this variance favorable or unfavorable? (Indicate the effect of each variance by selecting "F" for Favorable, "U" for Unfavorable, and "None" for no effect (i.e., zero variance).) Master budget variance Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Required: Actual Master Budget 4,000 3,800 $ 53,200 $ 60,000 19,000 16,000 16,000 15,000 7,700 8,000 10,000 9,000 1. What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,750 units. b. 4,150 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. (Indicate the effect of each variance by selecting "F" for Favorable, "U" Unfavorable, and "None" for no effect (.e., zero variance).) Flexible-Budget Variance Sales Volume Variance Contribution margin Operating income Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,750 units. b. 4,150 units. Units Sales Variable costs: Manufacturing Selling and administrative Total variable costs Contribution margin Fixed costs: Manufacturing Selling and administrative Total fixed costs Operating income Flexible budget Flexible budget (a.) (b.) Master Budget 4,000 $ 60,000 16,000 8,000 $ 24,000 $ 36,000 15,000 9,000 $ 24,000 $ 12,000