A new accounting intern at Gibson Corporation lost the only copy of this period's master budget. The CFO wants to evaluate performance for this period but needs the master budget to do so. Actual results for the period follow. Sales volume Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs Manufacturing Marketing and administrative Operating profit 130,000 units $873,600 192,192 78,624 5602,784 es 237,720 141,440 $223,624 The company planned to produce and sell 105,300 units for $6.00 each. At that volume, the contribution margin would have been $442.260. Variable marketing and administrative costs are budgeted at 10 percent of sales revenue. Manufacturing fixed costs are estimated at $2.40 per unit at the normal volume of 105,300 units. Management notes, "We budget an operating profit of $1.00 per unit at the normal volume." Required: a. Construct the master budget for the period. b. Prepare a profit variance analysis. Prepare a proht vanance analysis, (Do not round Intermediate calculations. Indicate the effect of each variance by selecting for favorable, or for unfavorable. If there is noel GIBSON CORPORATION Prohit Variance Analysis Actual Manutacturing Variances Administrative Variances Marketing and Sales Price Variance Flexible Budget Sales Activity Variance Master Budget 5 3736 Sales revenue Variable costs Manufacturing Marketing and admin Contribution margin Fed costs Marvutatuning Marketing in administrative Oporting role 192,192 78624 002,784 237,720 141,440 22.024 5