Erick Manufacturing Company established the following standard price and cost information:

Sales Price $50 per unit

Variable manufacturing cost $12 per unit

Fixed manufacturing cost $100,000

Fixed selling and administrative cost $40,000

Erick expected to produce and sell 10,000 units. Actual production and sales amounted to 9,500 units.

Required:

a) the pro-forma income statement in contribution format that would appear in Erick's master budget for the year (based on the planned level of activity).

b) the pro-forma income statement in contribution format that would appear in Erick's flexible budget (based on the actual level of activity).