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 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 Recuired 2 Using text Exhibit 14.4 as a guide, complete the missing parts of the following profit report for December. (If a variance has no amount, select "Nane" in the corresponding dropdown cell. Actual results Flexible-budget variances Flexible budget Sales volume variances Unit sales Sales S 114,000 570.000 433,200 136.800 72,000 84,800 Variable costs Contribution margin Fixed costs Operating income Master (static) budget 100,000 $ 500 000 300.000 $ 200,000 89.000 $ 111,000 S S (Required: Required 2 >