Required: 1. 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 of the following variances for December a. Total master budget variance. b. Total flexible budget variance. -. Sales volume variance, in terms of operating income. Sales volume variance, in terms of contribution margin. 2. Selling price variance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete the missing parts of the following profit report for December. (If a variance has no amount, select "None" in the corresponding dropdo Sales Volume Variances Flexible Budget Master Budget Actual Results Flexible-Budget Variances 90,000 mit sales TA les $ riable costs 100,000 500.000 375,000 125.000 55,000 70,000 $ 450,000 270,000 180.000 75,000 105.000 ntribution margin $ ed costs $ Come $