As the new accountant for Cohen \& Company, you have been asked to provide a succinct analysis of financlal performance for the year just ended. You obtain the following information that pertains to the company's sole product: Required: 1. What was the actual operating income for the perlod? 2. What was the company's master budget operating income for the perlod? 3. (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 corresponding dropdown cell.) 4. The total master budget varlance for a perlod can be decomposed Into a total flexlble budget varlance and a sales volume varlance. (a) What was the total flexlble-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.)