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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 companys only product, XL-10, for the month of December.

Required:

1. Using text Exhibit 14.4 as a guide, 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 (static) budget variance (also referred to as the total operating income variance for the period).

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.

Complete this question by entering your answers in the tabs below. Required: Required 2 Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December (1' a variance has no amount, select "Mone" in the corresponding dropdown call) Flexible Actual results Flexible-budget variances Sales volume variances Master static budget budget 158000 100.000 335.000 21000 Contribution man 214.000 Operating income 5 60.000 121.000 S 5 Complete this question by entering your answers in the tabs below. Required toured 2 2. Based on your completed proft report, determine the dollar amount, and label (Favorable or Unfavorable) each of the following variances for December: (if a variance has no amount, select "none" in the corresponding dropdown cell) Total master (at) budget variance (also referred to as the total operating income variance for the period). Sales volume variance, in terms of operating income . Sales volume variance, in terms of contribution margin Selling price variance toebe budget variance de volume comfortation