Problem 16-51 (Algo) Solve for Master Budget Given Actual Results (LO 16-2, 4) A new accounting intern at Gibson Corporation lost the only copy of this period's master budget. The CFO wants to evaluate performance for this period but needs the master budget to do so. Actual results for the period follow, 130, eee units $728,000 Sales volume Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs Manufacturing Marketing and administrative Operating profit 160, 160 65,520 $502,320 202,200 111,300 $188,820 The company planned to produce and sell 106,600 units for $5.00 each At that volume, the contribution margin would have been $373,100. Variable marketing and administrative costs are budgeted at 10 percent of sales revenue Manufacturing fixed costs are estimated at $2.00 per unit at the normal volume of 106,600 units Management notes, "We budget an operating profit of $100 per unit at the normal 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. Required A Required B Construct the master budget for the period. (Do not round intermediate calculations.) GIBSON CORPORATION Master Budget Sales volume units Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs Manufacturing Marketing and administrative Operating profit $ 0 $ 0 Required: a. Construct the master budget for the period b. Prepare a prolit voice analysis Complete this question by entering your answers in the tabs below JA Recured Prepare a profit vacante analyske. (Do not und intermediate calculations. Indicate the corect of coach ice by selecting "T" for forble, or "ufor navle elect GOSON CORPORATION Proteine Analysis Actual Manufacturing Van Administrative Variances Fete Sales Price Variance Budget Sales Active Vence Master Budget 5 T28.000 Vio Mind 10000 Ming and 355 Conto 502230 Food Macturing 202.2001 Meeting and am 5 Operation 153.600