Return to question Find the values of the missing items. Assume that actual sales volume equals actual production volume. (There are no inventory level changes.) (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Answer is not complete. Flexible Budget (based Manufacturing Variance Marketing and Administrative Variance Sales Price Variance on Sales Activity Variance Reported Income Statement (based on actual sales volume) 16,000 $ 35,740 Master Budget (based on budgeted sales volume) actual sales volume) 16,000 F 12,000 4,000 8,000 3,740 F $ 32,000 $ F S 24,000 18,280 $ 7,080 U 5,000 12,460 $ 1,940U 18.280 % $ 7,080 @ " $ 1,400 Units Sales revenue Less: Variable manufacturing costs Variable marketing and administrative costs Contribution margin Less: Fixed manufacturing costs Fixed marketing and administrative costs Operating profit $ 1.400 F 11,200 6,400 $ 14,400 2,800U 1,600 3,600 F U 8,400 4,800 10,800 U $ $ 4,830 470 F 5,700 1,930 S 6,610 U U 2,000 600U 5,300 3.700 5,400 5,300 3,700 1,800 $ $ $ 3,740 F S $ 3.600F S