As the new accountant for Cohen & Co, pu have been asked to provide a succinct analysis offinancial performance for the year just ended You obtain the following information that pertains to the company's sole product: units sold Sales Variable costs Fixed costs Required: Actual 35,000 $384,000 $214,000 $137,000 Master (Statio Budget 40,000 8470100 $278,000 $135,000 3 4 What was the actual operating income for the period? What was the company's master budget operating income for the period? Whatwas the total master (static) budget variance, in terms of operating income, for the period? Is this variance favorable or unfavorable? From the information given earlier, decompose the total master (static) budget variance by determining the amounts for both the total flexible-budget variance and sales volume variance. Are these variances favorable or unfavorable? (Leave no cells blank - be certain to enter "0" wherever required. If a variance has no amount, select "None" in the corresponding dropdown cell.) Total nexible-budget variance Sales volume variance As the new accountant for Cohen & Co, pu have been asked to provide a succinct analysis offinancial performance for the year just ended You obtain the following information that pertains to the company's sole product: units sold Sales Variable costs Fixed costs Required: Actual 35,000 $384,000 $214,000 $137,000 Master (Statio Budget 40,000 8470100 $278,000 $135,000 3 4 What was the actual operating income for the period? What was the company's master budget operating income for the period? Whatwas the total master (static) budget variance, in terms of operating income, for the period? Is this variance favorable or unfavorable? From the information given earlier, decompose the total master (static) budget variance by determining the amounts for both the total flexible-budget variance and sales volume variance. Are these variances favorable or unfavorable? (Leave no cells blank - be certain to enter "0" wherever required. If a variance has no amount, select "None" in the corresponding dropdown cell.) Total nexible-budget variance Sales volume variance