Learning Objective 5 Check Figure Sales $22.900 unfavorable Problem 27-3A Objective: To calculate and interpret master budget differences Miranda Company presents the following data for its master budget: Item Budgeted Amount Actual Amount Sales $1.155,200 $1. 132.300 Materials purchases $476,000 $451.300 Direct labor used in production $255,800 $251.300 Factory overhead used in production $291.600 $296,400 Cost of goods sold $765 000 $734 100 Operating expenses $225,000 $229,400 Units sold 45,000 43.100 Net income $148,738 $146 227 Directions: For each item, calculate the difference between budgeted and actual amounts and indicate whether the difference is favorable or unfavorable