The following information is available for Brownstone Products Company for the month of July: 1 Actual 3,700 $ 54,500 10,600 12,500 7,100 10,400 Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses Master Budget 4,000 $ 60,000 16,000 13, 200 8,000 10, 150 & 02:30:09 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. 3,880 units. b. 4,280 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. 3,880 units. b. 4,280 units. Show less Flexible budget Flexible budget Master Budget (a.) (b.) 4,000 $ 60,000 Units 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 36,000 $ 0 0 $ 0 $ 0 $ 0 $ $ 0 $ $ 13,200 10,150 23,350 $ 0 0 $ 0 $ 0 $ $ 0 0 $ $ $ 12,650