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Budgeting and Variance Analysis : A manufacturing company prepared a budget with expected sales of $1,000,000 and total expenses of $800,000. However, actual sales were

Budgeting and Variance Analysis: A manufacturing company prepared a budget with expected sales of $1,000,000 and total expenses of $800,000. However, actual sales were only $900,000, and total expenses amounted to $820,000. Calculate the sales variance and expense variance, and discuss the reasons for the variances.

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