6 Required information [The following information applies to the questions displayed below.] As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL-10, for the month December. Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December 2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable) each f the following Total master (static) budget variance (also referred to as the total operating income variance for the period). b. Total flexible-budget variance. c. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. (If a variance has no amount, select "None" in the corresponding dropdown cell.) Flexible Master (static) budget Actual results Flexible-budget variances Sales volume variances budget 108,000 100,000 Unit sales 500,000 540,000 Sales Variable costs 410 400 300.000 Contribution margin 129,600 200,000 Fixed costs 69,000 83,000 60,600 Operating income 117,000 Required 1 Required 2 Required 1 Required 2 2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable)) each of the following variances for December: (If a variance has no amount, select "None" in the corresponding dropdown cell.) a. Total master (static) budget variance (also referred to as the total operating income variance for the period) b. Total flexible-budget variance. c. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. Show less Total master (static) budget variance Total flexible-budget variance Sales volume variance, in terms of operating income Sales volume variance, in terms of contribution margin |Selling price variance a. b. C. d. e.