The following information is available for Brownstone Products Company for the month of July: 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 acthities within its relevant range of operations. Prepare a flexible budget for each of the following two output levels: a. 3.750 units b. 4,150 units. What was the master budget variance for July? Was this variance favorable or unfavorable? (Indicate the effect of each variance by selecting "F" for Favorable, "U" for Unfavorable, and "None" for no-effect (i.e., zero variance).) Compute the July soles 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" Unfovorable, and "None" for no effect (liey zero variance).) 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. 3,750 units. b. 4,150 units