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EXHIBIT 14.4 Breakdown of Total Operating Income Variance SCHMIDT MACHINERY COMPANY Analysis of Financial Results For October 2019 (1) (2) (3) (4) (5) Flexible-Budget Flexible Sales Volume Master (Static) Actual Variances Budget Variances Budget Units 780 780 220U 1,000 Sales $639,600 $15,60OF $624,000 $176,000U $800,000 Variable costs 350,950 50F 351,000 99,00OF 450,000 Contribution margin $288,650 $15,650F $273,000 $ 77,000U $350,000 Fixed costs 160,650 10.650U 150,000* 150,000 Operating income $128,000 $ 5,00OF $123,000 $ 77,00OU $200,000 Analysis of Total Operating-Income Variance Total operating-income variance** =$128,000-$200,000=$72,000U Flexible-budget variance Sales volume variance =$128,000 - $123,000 =$123,000 - $200,000 =$5,00OF =$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 foiiowing information applies to the questions displayed beioiv} 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, XL10, for the month of December. Required: 1. Using text Exhibit 14.4 as a guide, complete the missing parts ofthe following profit report for December. 2. Based on your completed profit report, determine the dollar amount, and label [Favorable or Unfavorable] each ofthe following variances for December: a. Total master {static} budget variance [also referred 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. 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 prot report for December. (If a variance has no amount, select "None" in the corresponding dropdown cell.) Unit sales Sales 55 450,000 Variable costs 2?0,000 Contribution margin 5% 121,200 130,000 Fixed costs 100,000 $ Operating income Required2 )