A new accounting intern at Gibson Corporation lost the only copy of this period's master budget. The CFO wants to evalua

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A new accounting intern at Gibson Corporation lost the only copy
of this period's master budget. The CFO wants to evaluate
performance for this period but needs the master budget to do so.
Actual results for the period follow.
The company planned to produce and sell 112,000 units for $5.00
each. At that volume, the contribution margin would have been
$392,000. Variable marketing and administrative costs are budgeted
at 10 percent of sales revenue. Manufacturing fixed costs are
estimated at $2.00 per unit at the normal volume of 112,000 units.
Management notes, "We budget an operating profit of $1.00 per unit
at the normal volume."
Required:
a. Construct the master budget for the
period.
b. Prepare a profit variance analysis.