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

	Reported Income Statement	Master Budget
Billable hoursa	5,805	5,400
Revenue	$ 1,124,000	$ 1,080,000
Professional salaries (all variable)	524,000	500,000
Other variable costs (e.g., supplies, computer services)	156,000	140,000
Fixed costs	260,000	275,000
Profit	$ 184,000	$ 165,000

^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.