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 3,800 $ 53,200 19,000 16,000 7,700 10,000 Master Budget 4,000 $ 60,000 16,000 15,000 8,000 9,000 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. 3,750 units. b. 4,150 units