Required information

Problem $14-52($Algo$)$ Master Budgets; Flexible Budgets; Operating Income Variance Analysis $[$LO $14-1,142,14-3,14-6]$

$[$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.

Parts $1$&$2($Algo$)$

Required:

Complete the missing parts of the following profit report for December.

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 budget variance.

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.

Complete the missing parts of the following profit report for December. $($If a variance has no amount, select "None" in the corresponding dropdown cell.$)$

$\backslash$table$[[$Unit sales,Actual Results,Flexible$-$Budget Variances,$\backslash$table$[[$Flexible$],[$Budget$]],$Sales Volume Variances,Master Budget$],[,108,000,,$None,,,$-,,100,000],[$Sales$,$$$,540,000,s,$None,$0,,$I,,$$,500,000],[$Variable costs,,$410,400,,,,,=,,,300,000],[$Contribution margin,$s,129,600,,,,,,,s,200,000],[$Fixed costs,,$69,000,,,,,,,,83,000],[$Operating income,$$,60,600,,,,,5,,$$$,117,000]]$