Assuming variances are separately calculated for each line item listed above, which of the following statements is correct? Total fixed costs in the flexible budget are $5,500. Variable operating costs have offsetting flexible budget variances and volume variances, leading to a master budget variance of $0. The product line is considered a cost center and a revenue center. The master budget variance for fixed costs varies from the flexible budget variance for fixed costs. The volume variance for sales revenue is favorable, and the flexible budget variance for sales revenue is also favorable