Required information [ The following information applies to the questions displayed below .' As part of its comprehensive planning and control system...

As part of its comprehensive planning and control system,...

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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 subsequentvariance analysis ." You are given the following information that pertains to the company's only product , XL - 10 , for the monthof 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 followingvariances 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 marginE. Selling price variance .Complete this question by entering your answers in the tabs below .Required 1Required 2Using 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 theCorresponding dropdown cell . ]Actual resultsFlexible -budget variancesFlexibleMaster ( static )budgetSales volume variancesbudgetUnit sales117.0001 17. 000|Favorable*105. 000Sales585, 000 | {O| None585, 000| {60,000| Favorable*525, 000Variable costs4 44, 600Unfavorable*Unfavorable*315,000Contribution margin140. 400Unfavorable*Favorable*$210.000Fixed costs19, 000FavorableNONE9 2.00061. 400$Operating income*Unfavorable*Favorable*1 18,000