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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 company's only product, XL-10, for the month of December.

Required:

1. Using textExhibit 14.4as 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 1 Required 2 Using text Exhibit 14.4 as a guide, complete the missing parts of the following prot report for December. (If a variance has no amount, select "None" in the corresponding dropdown cell.) Unit sales 100,000 500,000 300,000 200,000 . 87,000 60,400 __ $ 113.000 Required 2 > Sales Variable costs Contribution margin Fixed costs Operating income Complete this question by entering your answers In the tabs below. Required 1 Required 2 2. Based on your completed prot 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.) a. Total master (static) budget variance (also referred to as the total operating income variance for the period). b. Total exible-budget variance. c. Sales volume variance, in terms of operating income. d. Sales volume variance, in terms of contribution margin. e. Selling price variance. Show IessA a. Total master (siati c) budget variance b. Total exible-budget varianoe c. Sales volume variance, in terms of operating income d. Sales volume variance, in terms of contribution margin