Master Budget - Income Statement Units 100,000 Revenues $4,000,000 Direct Materials (paper) $1,000,000 Direct Labor $400,000 Variable Manuf. Overhead (power) $200,000 Contribution Margin $2,400,000 Fixed Manufacturing Overhead Fixed Selling and Adm. Expenses Operating Profit $ 260,000 $ 50,000 $2,090,000 Standard Information Total Direct Materials (paper) Direct Labor Hours per unit Var. Manuf. OH (power) 10,000,000 grams 0.20 hrs $ 0.20 /Kwh Actual Results - Income Statement Revenues $3,780,000 Direct Materials (paper) $1,296,000 Direct Labor $405,000 Variable Manuf. Overhead (power) $243,000 Contribution Margin $1,836,000 Fixed Manufacturing Overhead $ 245,000 Fixed Selling and Adm. Expenses Operating Profit $ 60,000 $1,531,000 Total Direct Materials (paper) Direct labor cost per unit Total Kwh Consumed (power) Actual Data 10,800,000 grams $ 4.50 /book 1,350,000 Kwh