Osage, Inc., manufactures and sells lamps. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month:

	Actual (based on actual orders for 461,000 units)						Master Budget (based on budgeted orders for 502,000 units)
Sales revenue		$	4,979,000					$	5,020,000
Less
Variable costs
Materials			1,495,000						1,506,000
Direct labor			287,000						351,400
Variable overhead			675,500						652,600
Variable marketing and administrative			490,000						502,000
Total variable costs		$	2,947,500					$	3,012,000
Contribution margin		$	2,031,500					$	2,008,000
Less
Fixed costs
Manufacturing overhead			991,000						961,100
Marketing			299,000						299,000
Administrative			215,000						181,100
Total fixed costs		$	1,505,000					$	1,441,200
Operating profits		$	526,500					$	566,800

Required:

Prepare a profit variance analysis for Osage, Inc. (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 Osage, Inc. (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.) OSAGE, INC. Profit Variance Analysis Manufacturing Marketing and Variances Administrative Variances Actual Sales Price Variance Flexible Budget Sales Activity Variance Master Budget $ 4,979,000 $ 5,020,000 Sales revenue Variable costs: Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fixed costs: Manufacturing overhead Marketing Administrative Total fixed costs Operating profits 1,495,000 287,000 675,500 490,000 $ 2,947,500 $ 2,031,500 1,506,000 351,400 652,600 502,000 $ 3,012,000 $ 2,008,000 991,000 299,000 215,000 $ 1,505,000 $ 526,500 961,100 299,000 181,100 $ 1,441,200 $ 566,800