The following information is available for Brownstone Products Company for the month of July Master Actual Budget Units 3,700 4,000 Sales revenue $ 68,500 $ 60,000 Variable manufacturing costs 10,800 16,000 Fixed manufacturing costs 12,700 13,660 Variable selling and administrative expenses 7,300 8,000 Fixed selling and administrative expenses 8,700 10,350 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 3.920 units b.4,320 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 (1.0, zero varlance).) Flexible Budget Sales Volume Variance Contribution margin Operating income Variance U