Nottingham Forest Products reports the following information concerning operations for the most recent month: Actual (based Master Budget (based on on actual sales budgeted sales of 4,800 units) of 4,000 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing Marketing Administrative $ 228,700 units) $ 188,000 50,302 39,000 31,520 27,200 16,608 13,100 7,805 6,200 7,215 6,500 $ 113,450 $ 115,250 38,930 14,860 9,510 $ 63,300 $ 92,000 $ 96,000 37,400 12,200 10,400 $ 60,000 Total fixed costs Operating profits There are no inventories. Required: $ 51,950 $ 36,000 Prepare a profit variance analysis for Nottingham Forest Products. 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. Required: Prepare a profit variance analysis for Nottingham Forest Products. 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. Sales revenue Variable costs: NOTTINGHAM FOREST PRODUCTS Profit Variance Analysis Actual (4,800 Units) Marketing and Manufacturing Variance Administrative Variance Sales Price Variance Flexible Budget (4,800 Units) Master Budget S 228,700 Sales Activity Variance (4,000 Units) $ 188,000 Manufacturing costs: Direct labor Materials Overhead 50,302 31,520 16,608 Marketing Administrative 7,805 7,215 Contribution margin $ 115,250 Fixed costs: 39,000 27,200 13,100 6,200 6,500 S 0 $ 96,000 Manufacturing Marketing 38,930 37,400 14,860 12,200 Administrative 9,510 10,400 Operating profit $ 51,950 $ 0 $ 36,000