1. Beta Furniture

Item	Value
Sales price per unit	$75.00
Variable cost per unit	$40.00
Fixed manufacturing cost	$12,000 total
Fixed selling and administrative cost	$3,000 total

1. Beta Furniture planned to produce and sell 400 units. Actual production and sales amounted to 450 units. Required:
   1. Prepare a traditional income statement for the master budget.
   2. Prepare a flexible budget income statement.