Toyworld manufactures and sells a line of toys. The toys are primarily distributed through department stores. As president of Toyworld, you wanted to analyze Toyworld's profitability. Your capable assistant provided you with the following data Static/Master Actual Budget Selling price, per unit $20.00 $21.00 Variable manufacturing cost per unit 11.00 12.00 Variable marketing and administrative expenses, total 9,000 11.550 Fixed manufacturing cost total 34,500 36,000 Fixed marketing and administrative expenses, total 40,000 44,000 Sales volume, in units 9,000 10,000 * 5% of sales revenue Required: a) Your assistant has requested you to complete the "Flexible Budget" and "Static/Master Budget" columns of the analysis, reproduced below (She had to attend to an out-of-town emergency) Actual Results Flexible Budget Static/Master Budget Units sold 10,000 Revenues (sales) $210,000 $ s Variable expenses: Manufacturing $120,000 S S Marketing and administrative 11.550 $ $ $131.550 S S Contribution margin $78,450 S S Fixed expenses: Manufacturing $36.000 S S 44000 $ Marketing and administrative S $80 000 $ S ($1,550 Operating income (loss) S SI