The following information is available for Brownstone Products Company for the month of July: Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Actual 3,900 $ 55,800 10,900 12,800 7,400 8,800 Master Budget 3,200 $ 60,000 16,000 13,800 8,000 10,450 Required: 1. What was the master budget variance for July? Was this variance favorable or unfavorable? 2. Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. 4. Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,940 units. b. 4,340 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 What was the master budget variance for July? Was this variance favorable or unfavorable? (Indicate the effect of each variance by selecting "F" for Favorable, "U" for Unfavorable, and "None" for no effect (i.e., zero variance).) Master budget variance Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Compute the July sales volume variance and the flexible-budget variance for the month, both in terms of contribution margin and in terms of operating income. (Indicate the effect of each variance by selecting "F" for Favorable, "U" for Unfavorable, and "None" for no effect (i.e., zero variance).) Flexible-Budget Variance Sales Volume Variance Contribution margin Operating income Required 1 Required 2 Required 4 Prepare pro-forma budgets for activities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3,940 units. b. 4,340 units. Show less Flexible budget Flexible budget Master Budget (a.) (b.) Units 3,200 Sales $ 60,000 Variable costs: Manufacturing 16,000 Selling and administrative 8,000 Total variable costs $ 0 $ 0 $ 24,000 Contribution margin $ 0 $ 0 $ 36,000 Fixed costs: Manufacturing 13,800 Selling and administrative 10,450 Total fixed costs $ 0 $ 0 $ 24,250 Operating income 11,750 EAEA $ 0 $ 0 $