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:

Sales volume $74,800$ units

Sales revenue $ $972,400$

Variable costs

Manufacturing $242,080$

Marketing and administrative $39,200$

Contribution margin $ $691,120$

Fixed costs

Manufacturing $436,760$

Marketing and administrative $104,100$

Operating profit $ $150,260$

The company planned to produce and sell $85,000$ units for $$12\mathrm{.}50$ each. At that volume, the contribution margin would have been $$752,000.$ Variable marketing and administrative costs are budgeted at $5$ percent of sales revenue. Manufacturing fixed costs are estimated at $$5$ per unit at the budgeted volume of $85,000$ units. Management notes, $$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.