The following information is available for Brownstone Products Company for the month of July Master Actual Budget Unito 3,900 3,200 Sales revenue $ 55,800 $ 60,000 Variable manufacturing costs 10,900 16,000 Fixed manufacturing costs 12,800 13,800 Variable selling and administrative expenses 7,400 8,000 Fixed selling and administrative expenses 8,800 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 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 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 Units Flexible budget Flexible budget (a.) (b.) Master Budget 58,950 3,200 3,200 $ 54,700 $ 73,125 s 60,000 16,000 Sales Variable costs: Manufacturing Selling and administrative Total variable costs Contribution margin Fixed costs: Manufacturing Selling and administrative Total fixed costs Operating income (16,000) (8,000) (24,000) $ 30,700 $ (19,500) (9.750) (29,250) $ 43,875 $ $ $ 8,000 24,000 36,000 (13,800) (10.450) (24.250) $ 6,450 $ (16,819) (12.736) (29,555) $ 14,320 $ 13,800 10.450 24,250 11.750 $ $