! Required information [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 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. 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 Complete the missing parts of the following profit report for December. (If a variance has no amount, select "None" in the corresponding dropdown cell.) Actual Results Flexible-Budget Variances Flexible Budget Sales Volume Variances Unit sales Sales $ 101,000 505,000 383,800 121,200 75,000 46.200 Variable costs Contribution margin Fixed costs Operating income Master Budget 90,000 $ 450,000 270,000 $ 180,000 100,000 $ 80,000 $ $ $ Required 1 Required 2 2. Based on your completed profit 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 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. Show less A a. Total master budget variance Total flexible budget variance b. C. Sales volume variance, in terms of operating income d. Sales volume variance, in terms of contribution margin e. Selling price variance