The following information is available for Brownstone Products Company for the month of July: Master Budget 3,800 4,000 $53,200 $60,000 19,000 16,000 16,000 15,000 7,700 8,000 10,000 9,000 Actual Units Sales revenue Variable manufacturing costs Fixed manufacturing costs Variable selling and administrative expenses Fixed selling and administrative expenses 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. 3,750 units. b. 4,150 units. es Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 4 Polowin p rwo ounpubtudses for activities within its relevant range of operations. Prepare a flexible budoget for each of the a. 3,750 units. b. 4,150 units. Show less Flexible Flexible Master 4,000 Units Sales Variable costs: $ 60,000 16,000 8,000 $ 24,000 $ 36,000 Manufacturing Selling and administrative Total variable costs Contribution margin Fixed costs: 15,000 9,000 $ 24,000 $ 12,000 Manufacturing Selling and administrative Total fixed costs Operating income