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: Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Less Fixed costs Manufacturing overhead Marketing Administrative Total fixed costs Operating profits Actual (based on actual orders for 451,000 units) $4,969,000 Master Budget (based on budgeted orders for 482,000 units) $4,820,000 1,445,000 277,000 1,446,000 337,400 674,500 626,600 470,000 482,000 $2,866,500 $2,892,000 $2,102,500 $1,928,000 989,000 289,000 960,100 289,000 205,000 $1,483,000 180,100 $1,429,200 $ 619,500 $ 498,800 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.) OSAGE, INC. Profit Variance Analysis Manufacturing Actual Variances $ 4,969,000 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 1,445,000 277,000 674,500 470,000 $ 2,866,500 $ 2,102,500 989,000 289,000 205,000 $ 1,483,000 Operating profits Marketing and Administrative Sales Price Variance Flexible Budget Master Sales Activity Variance Budget Variances $ 4,820,000 1,446,000 337,400 626,600 482,000 0 $ 2,892,000 0 $ 1,928,000 960,100 289,000 180,100 $ 0 $ 1,429,200 619,500 0 $ 498,800