Exercise 16-29 Profit Variance Analysis (LO 16-4) Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and therefore, has no inventories. The following information is available for the current month Actual (based onMaster Budget (based actual orders for 450,000 units) $4,968,000 on budgeted orders for 480,000 units) $4,800,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative 1,440,000 276,000 674,400 468,000 $2,858,400 $2,109,600 1,440,000 336,000 624,000 480,000 Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing 988,800 288,000 204,000 960,000 288,000 180,000 Administrative Total fixed costs Operating profits $ 628,800 $492,000 Required Prepare a profit variance analysis for Osage, Inc. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)