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. Using text Exhibit 14.4 as a guide, complete the missing parts of the following prot 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 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. 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. Complete thls questlon by enterlng 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 107,000 Sales $ 535,000 406,600 Contribution margin 128,400 Fixed costs 67,000 Operating income $ 61,400 490,000 294,000 1 96,000 Variable costs 114,000 Required 2 > 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 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 (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. Total master (static) budget variance b. Total exiblebudget variance c. Sales volume variance, in terms of operating income d. Sales volume variance, in terms of contribution margin