Comparing master budget to actual results. Using the data from Exhibit 10.20 and the flexible budget from exercise 25, prepare a profit variance report that will enable Maxum to identify the variances between the master budget and actual results.

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EXHIBIT 10.20 MAXUM COMPANY Sales Volume... Sales Revenue Manufacturing Cost of Goods Sold: Variable.... Fixed.... Cost of Goods Sold... Gross Profit..... Operating Costs: Marketing Costs: Variable.... Fixed... Administrative Costs. All Fixed. Total Operating Costs..... Operating Profits. Actual Master Budget 170 Units 200 Units $20,000 7,800 500 $18,400 6.880 485 $ 7,365 $11,035 $ 2,060 $ 8,300 $11,700 1,040 995 $ 2,200 1,000 1,000 $ 4,200 $ 4,095 $ 6,940 $ 7,500