As the new accountant for Cohen & Companyyou have been asked to provide a succinct analysis of financial performance for the year just endedYou obtain the following information that pertains to the company's sole product Units sold Sales Variable costs Fixed costs Actual $45,000406,000236,000151,000$ Master Budget $50,000458,000278,000143,000$ Required: What was the actual operating Income for the period? What was the company's master budget operating income for the period $?($a$)$ What was the total master budget variance, in terms of operating income, for the period? $($b$)$ is this variance favorable or unfavorable? $($a variance has no amount, select "None" in the corresponding dropdown cell $.)$ The total master budget variance for a period can be decomposed into a total flexible budget variance and a sales volume variance $($a$)$ What was the total flexible$-$budget variance for the period? $($b$)$ Was this variance favorable or unfavorable? $($c$)$ What was the sales volume variance for the period? $($ d$)$ Was this variance favorable or unfavorable? $($a variance has no amount, select "None" in the corresponding dropdown cell.$)2$ Actual operating income Master budget operating income Total master budget variance Total flexible $-$ budget variance $34$ Sales volume