Golden Food Products produces special$-$formula pet food. The company carries no inventories. The master budget calls for the company to manufacture and sell $120,000$ cases at a budgeted price of $$60$ per case this year. The standard direct cost sheet for one case of pet food follows:

$\backslash$table$[[$Direct$,(3$ pounds @ $$2),$$$6],[$materials$,(0\mathrm{.}25$ hours @$,8],[$Direct labor,$$32),]]$

Variable overhead is applied based on direct labor$-$hours. The variable overhead rate is $$16$ per direct labor$-$hour. The fixed overhead rate $($at the master budget level of activity$)$ is $$12$ per unit. All nonmanufacturing costs are fixed and are budgeted at $$2\mathrm{.}2$ million for the coming year.

At the end of the year, the costs analyst reported that the sales activity variance for the year was $$336,000$ favorable.

The following is the actual income statement $($in thousands of dollars$)$ for the year for Golden Food Products:

$\backslash$table$[[$Sales revenue,$$7,800],[$Less variable costs,$800],[$Direct materials,$992],[$Direct labor,$515],[,$ Variable overhead,$$2,307],[,$ Total variable costs,$$5,493],[$Contribution margin,$],[$Less fixed costs,$],[,$ Fixed manufacturing,$1,480],[$overhead$,2,125],[,$ Nonmanufacturing costs,$],[,$ Total fixed costs,$$3,605],[$Operating profit,$$1,888]]$

Required:

Prepare a profit variance analysis.

Note: Enter your answers in thousands of dollars. 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.

$\backslash$table$[[$GOLDEN FOOD PRODUCTS$],[$Profit Variance Analysis$],[,$Actual,$\backslash$table$[[$Manufacturing$],[$Variances$]],\backslash$table$[[$Non$-],[$Manufacturing$],[$Variances$]],\backslash$table$[[$Sales Price$],[$Variance$]],\backslash$table$[[$Flexible$],[$Budget$]],\backslash$table$[[$Sales$],[$Activity$],[$Variance$]],\backslash$table$[[$Master$],[$Budget$]]],[$Sales revenue,$$,7,800,,,,$F$,,,$F$,],[$Direct materials,,$800,$U$,,,,,,$U$,],[$Direct labor,,$992,$F$,,,,,,$U$,],[$Variable overhead,,$515,$U$,,,,,,$U$,],[$Total variable costs,$$,2,307,$U$,,,,$$$,,$U$,$$$],[$Contribution margin,$$,5,493,$U$,,,\backslash$bar $($F$),$$$,,$F$,$$$],[$Fixed costs:$],[$Manufacturing$,,1,480,$U$,,,,,0,,],[$Non$-$manufacturing,,$2,125,,\backslash$bar $($F$),0,,,0,,],[$Total fixed costs,$$,3,605,$U$,\backslash$bar $($F$),0,,$$$,0,,$$$],[$Operating profits,$$,1,888,$U$,$F$,,\backslash$bar $($F$),$$$,,$F$,$$$]]$