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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 ) . 62 . Total flexible - budget variance .\\ c. Sales volume variance , in terms of operating income . J. 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 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 " None " in the Corresponding dropdown cell . ] Actual results Flexible -budget variances Flexible Master ( static ) budget Sales volume variances budget Unit sales 117.000 1 17. 000| Favorable* 105. 000 Sales 585, 000 | { O| None 585, 000| { 60,000| Favorable* 525, 000 Variable costs 4 44, 600 Unfavorable* Unfavorable* 315,000 Contribution margin 140. 400 Unfavorable* Favorable* $ 210.000 Fixed costs 19, 000 Favorable NONE 9 2.000 61. 400 $ Operating income* Unfavorable* Favorable* 1 18,000Required 1 Required 2 2. Based on your completed prot report, determine the dollar amount, and label {Favorable or Unfavorable\" each ofthe following variances for December: (If a variance has no amount, select "None" in the corresponding drop-down cell.) a. Total master (static) budget variance (also refer to as the total operating income variance for the period}. b. Total exiblebudget 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. Total master {static} budget variance Total exiblebudget variance Sales volume variance in terms of operating income - _ Sales volume valiance in terms of contribution margin Selling price valiance