As the new accountant for Cohen & Company, you have been asked to provide a succinct analysis of financial

performance for the year just ended. You obtain the following Information that pertains to the company's sole product:

Required:

What was the actual operating Income for the perlod?

What was the company's master budget operating Income for the period?

$($a$)$ What was the total master budget varlance, In terms of operating Income, for the perlod? $($b$)$ Is this varlance

favorable or unfavorable? $($If a varlance has no amount, select "None" In the correspondling dropdown cell.$)$

The total master budget varlance for a perlod can be decomposed into a total flexible budget varlance and a sales

volume varlance. $($a$)$ What was the total flexible$-$budget varlance for the perlod? $($b$)$ Was this varlance favorable or

unfavorable? $($c$)$ What was the sales volume varlance for the perlod? $($d$)$ Was this varlance favorable or unfavorable? $($If a

varlance has no amount, select "None" In the corresponding dropdown cell.$)$