The Ornate Company Has the Following Information Pertaining to the Month

Essay

The Ornate Company has the following information pertaining to the month of March:
$\begin{array}{lrr}\text { Units of output, actual } & 21,000 \\\text { Fixed costs, actual } & \$ 497,000 \\\text { Operating profit, master budget } & \$ 220,000 \\\text { Sales price variance } & \$ 84,000\mathrm{U} \\\text { Beginning and ending inventories } & 0 \\\text { Sales volume variance, revenue } & \$ 300,000 \mathrm{U} \\\text { Budgeted selling price per unit } & \$ 100 \\\text { Variable costs, master budget } & \$ 1,680,000 \\\text { Contribution margin, actual } & \$ 516,000\end{array}$

Required:
Prepare a performance report for March including columns for the (a) actual results, (b) flexible budget, (c) flexible budget variance, (d) master budget, and (e) sales activity variance.