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: Actual Flexible-budget Flexible Sales volume Master (static) 1. Using results variances budget variances budget Unit sales 102,000 92,000 Sales $510,000 $460,000 Variable costs 387,600 276,000 Contribution margin $122,400 $184,000 Fixed costs 77,000 101,000 Operating income $45,400 $83,000 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.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 102,000 ales $510,000 Variable costs 387,60 Contribution mar in $122,400 Fixed costs 77,00 Operating income $45,40 ? . . . . 92,00 ? . . . . $460,000 ? . . . . 276,00 ? . . . . $184,000 ? . . . . 101 ,000 $83,000 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 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 a Total flexible-budget variance Sales volume variance, in terms of operating income a Sales volume variance, in terms of contribution margin 5 Selling price variance