Problem $16-55($Algo$)$ Solve for Master Budget Given Actual Results $($LO $16-2,4)$

The following are the actual results for Bentler Associates for the most recent period:

The company planned to produce and sell $76,000$ units for $$12\mathrm{.}50$ each. At that volume, the contribution margin would

have been $$680,000.$ Variable marketing and administrative costs are budgeted at $5$ percent of sales revenue.

Manufacturing fixed costs are estimated at $$5$ per unit at the budgeted volume of $76,000$ units. Management notes,

$"$We budget an operating profit of $$2\mathrm{.}50$ per unit at the budgeted volume."

Required:

a$.$ Construct the master budget for the period.

b$.$ Prepare a profit variance analysis.

Complete this question by entering your answers in the tabs below.

Construct the master budget for the period.