Required information Problem $14-52($Algo$)$ Master Budgets; Flexible Budgets; Operating Income Variance Analysis $[$LO $14-1,14-2,14-3,14-6][$The following information applies to the questions displayed below.$]$ As part of its comprehensive planning and control system, Mopar Company uses a master budget and subsequent variance analysis. You are given the following information that pertains to the company's only product, XL$-10,$ for the month of December. Parts$($Algo$)$ Required: Complete the missing parts of the following profit report for December. 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. c$.$ Sales volume variance, in terms of operating income. d$.$ Sales volume variance, in terms of contribution margin. e$.$ Selling price variance.