The following information is available for Brownstone Products Company for the month of July Master Actual Budget 4,000 Units 3,600 $53,800 $60,000 19,600 14,500 8,300 9,700 Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 16,000 13,500 8,000 9,600 Required: 1. What was the total operating income variance for July? (Note: this variance is also called the master (static) budget variance for the period.) Was this variance favorable (F) or unfavorable (U)? 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. 3,810 units b. 4,210 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 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 (i.e., zero variance).) Flexible-Budget Variance Sales Volume Variance $ 6,500 U $ 9,910x U 3,600U Contribution margin $ 1,308x U Operating income