The following information is available for Brownstone Products Company for the month of July: Master Budget Units Actual 3,900 Sales revenue Variable manufacturing costs $ 60,200 4,000 $ 60,000 20,000 16,000 Fixed manufacturing costs 14,900 13,900 Variable selling and administrative expenses Fixed selling and administrative expenses 8,700 10,100 8,000 10,000 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. 3,850 units. b. 4,250 units. 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).) Contribution margin Operating income Flexible-Budget Variance Sales Volume Variance < Required 1 Required 4 >