Haborad's per-unit standard costs have remained unchanged for several months. The standard calls for the following. The standard cost is besed on Haborad's normal monthly volume of 5,000 units. Haborad began the current month with 300 units in finished goods inventory. The firm expected to produce 5,000 units and sell 4,500 units in the current month but actually produced 5,200 units and sold 4,850 units. The planned selling price of $60 per unit was maintained. The actual costs incurred were as follows: All variances, including the volume variance, are closed to Cost of Goods Sold each month. Required a. Prepare the master budget income statement for the month. b. Prepare the flexible budget income statement for the month. c. What is the actual net income for the month? (Ending inventory is valued at standard cost.)