Required: ...d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget Income statements, assuming production volumes of 32,000 and 34,000 units Determine the sales and variable cost volume variances, assuming volume is actually 34,000 units. Indicate whether the variances are favorable (F) or unfavorable (U) (Select "None" If there is no effectie. zero variance).) Volume Variances Answer is not complete. Master Flexible Budgets Budget 33.000 32.000 34,000 $1,214,400 1,177600 1 251 200 Number of units Sales revenue Variable manufacturing costs Materials Labor Manufacturing overhead Variable selling general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Fixed selling general and administrative costs Net income OOOOO 264.000 115.500 188,100 207.900 438,900 256.000 112,000 182.400 201600 425,600 272,000 119,000 193 800 214200 452,200 OOO 134 000 49,000 255.900 134 000 49,000 $ 242,600 134 000 49,000 $ 269 200 5