Kentford Associates is a small professional services firm. Last month, Kentford billed more hours than expected and profits reflected this.

$\backslash$table$[[,\backslash$table$[[$Reported Income$],[$Statement$]],$Master Budget$],[$Billable hours $^($Revenue $),5,805,5,400],[$Professional salaries $($all variable$),$$$1,124,000,$$$1,080,000],[$Other variable costs $($e$.$g$.,$ supplies, computer services$),524,000,500,000],[$Fixed costs,$156,000,140,000],[,$ Profit,$260,000,275,000]]$

aThese are hours billed to clients. They are fewer than the number of hours worked because there is nonbillable time $($e$.$g$.,$ slack periods, time in training sessions$)$ and because some time worked for clients is not charged to them.

Required:

Prepare a profit variance analysis for Kentford Associates.

Note: 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.

$\backslash$table$[[,\backslash$table$[[$Actual$],[(5,805],[$hours$)]],$Cost Variances,Price Variances,$\backslash$table$[[$Flexible$],[$Budget$],[(5,805$ hours$)]],$Sales Activity Variance,$\backslash$table$[[$Master$],[$Budget$],[(5,400$ hours $)]]],[$Revenue$,$$$1,124,000,,,$$$1,161,000,,$$$1,080,000],[$Professional salaries,$524,000,7,,537,500,\backslash$bar $(5),500,000],[$Other variable costs,$156,000,,,150,500,,140,000],[$Fixed costs,$260,000,,,275,000,,275,000],[$Profit$,$$$184,000,,,$$$,198,000,,165,000]]$