I just need help with required part 2. Please be clear what answers belong to which parts. Thank you!

EXHIBIT 14.4 Breakdown of Total Operating Income Variance (1) (2) (4) Sales Volume Variances (5) Master (Static) Budget Actual SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (3) Flexible-Budget Flexible Variances Budget 0 780 $15,600F $624,000 351,000 $15,650F $273,000 10,650U 150,000 $5,000F $123,000 Units 50F Sales Variable costs Contribution margin Fixed costs Operating income 780 $639,600 350,950 $288,650 160,650 $128,000 2200 $176,0000 99,000F $ 77,000U 0 $ 77,000U 1,000 $800,000 450,000 $350,000 150,000 $200,000 Analysis of Total Operating-Income Variance Total operating-income variance** = $128,000-$200,000=$72,000U Flexible-budget variance =$128,000 - $123,000 =$5,000F Sales volume variance =$123,000 - $200,000 = $77,000U *Budgeted fixed factory overhead cost = $120,000; budgeted fixed selling and administrative expense = $30,000. **Also called the total master (static) budget variance. Note: U denotes an unfavorable effect on operating income; F denotes a favorable effect on operating income. 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 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.) Unit sales Sales Actual results Flexible-budget variances 115,000 None $ 575,000 $ 0 None 437,000 92,000 Unfavorable S 138,000 $ 92,000 Unfavorable 80,000 10,000 Favorable S 58,000 $ 82,000 Unfavorable Variable costs Contribution margin Fixed costs Operating income Flexible budget Sales volume variances 115,000 13,000 Favorable $ 575,000 $ 65,000 Favorable 345,000 39,000 Unfavorable S 230,000 $ 26,000 Favorable 90,000 o None $ 140,000 $ 26,000 Favorable Master (static) budget 102.000 $ 510.000 306.000 S 204 000 90.000 $ 114,000 Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 2. Based on your completed profit report, determine the dollar amount, and label (Favorable or Unfavorable)) each of the following variances for December: (If a variance has no amount, select "None in the corresponding dropdown cell.) 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. Show less Total master (static) budget variance Total flexible-budget variano Sales volume variance, in terms of operating income d. Sales volume variance, in terms of contribution margin e. Selling price variance