MacBeth Company implemented the concept of a master budget a few years ago. The CFO in conjunction with the controller developed the master budget concept which was approved by the board of directors This master budget calls for production and sale of 19 500 units for $103,350, variable costs of $48750 and fixed costs of $18.700 During the most recent fiscal year end, the company incurred $33,500 of variable costs to produce and sell 18.700 units for $86,500 During this latest fiscal year end, the company earned $26.500 of operating income before any corporate taxes Disregard tax implications Required: 1. As a recently hired management accountant at MacBeth Company, calculate the following for the CFO's review (Do not round intermediate calculations. Round your answers to the nearest whole dollar) a. Flexible-budget operating income b. Flexible-budget variance, in terms of contribution margin. Please specify if this variance was favorable or unfavorable? c. Flexible-budget variance, in terms of operating income. Please specify this variance was favorable or unfavorable? d. Sales volume variance, in terms of contribution margin Please specify if this variance was favorable or unfavorable? e. Sales volume variance, in terms of operating income. Please specify if this variance was favorable or unfavorable? Fobile budget operating income Flexible-budget variance Florble-budget anance Sales volume varianco