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 Exhibh 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 8 Total master (static) budget variance (also referred to as the total operating Income variance for the period) b. Total flexible-budget variance. c Soles 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 144 as a guide, 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 Master (static) budget Unitales 118,000 107.000 Sales $ 500,000 535.000 Variable costs 448,400 321.000 Contribution margin 141,600 214,000 Fixed costs 81,000 93.000 Operating income $ 60,000 121,000 $ $ $ $ Required 2 > 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. Show less A a b. c Total master (static) budget variance Total flexible-budget variance Sales volume variance, in terms of operating incomo Sales volumo varianco, in terms of contribution margin o Selling price variance d