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 $ 53,900 10,300 12,200 6,800 8,300 Master Budget 3,200 $ 60,000 16,000 13,600 8,000 9,700 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. 3,820 units. b. 4,220 units. Answer is not complete. 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 mar and in terms of operating income. (Indicate the effect of each variance by selecting "F" for Favorable, "U" for Unfavorable, "None" for no effect (i.e., zero variance).) Contribution margin Operating income Flexible-Budget Variance U U U Sales Volume Variance F F 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. 3,820 units. b. 4,220 units. Show less Flexible budget (a.) Flexible budget (b.) Master Budget 3,200 60,000 Units $ 16,000 8,000 24,000 36,000 $ 0 Sales Variable costs: Manufacturing Selling and administrative Total variable costs Contribution margin Fixed costs: Manufacturing Selling and administrative Total fixed costs Operating income $ $ $ 0 0 0 old $ 0 $ 13,600 9,700 23,300 12,700 0 $ $ $ $ $ 0 0 0 $ $ 0