Village PieMaker, Inc. bakes pies for restaurants in the Pacific Northwest. The company operates three departments: CoConut, BlueBerry, and ApPle. Department managers are held responsible for generating revenue and controlling costs. The following information for the CoConut department was compiled for the previous period: Assuming variances are separately calculated for each line item listed above, which of the following statements is correct? Total fixed costs in the flexible budget are $5,500. Variable operating costs have offsetting flexible budget variances and volume variances, leading to a master budget variance of $0. The volume variance for sales revenue is favorable, and the flexible budget variance for sales revenue is also favorable. The product line is considered a cost center and a revenue center. The master budget variance for fixed costs varies from the flexible budget variance for fixed costs