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 464,000 units) $4,982,000 Master Budget (based on budgeted orders for 508,000 units) $5,080,000 1,510,000 1,524,000 290,000 355,600 675,800 660,400 496,000 508,000 $2,971,800 $3,048,000 $2,010,200 $2,032,000 991,600 302,000 218,000 $1,511,600 $ 961,400 302,000 181,400 $1,444,800 498,600 $ 587,200 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 Sales revenue Actual Manufacturing Variances $ 4,982,000 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 1,510,000 290,000 675,800 496,000 $ 2,971,800 $ 2,010,200 991,600 302,000 218,000 $ 1,511,600 Marketing and Administrative Variances Sales Price Variance Flexible Budget Sales Activity Variance Master Budget $ 5,080,000 1,524,000 355,600 660,400 508,000 $ 0 $ 3,048,000 0 $ 2,032,000 961,400 302,000 181,400 $ 0 $ 1,444,800 $ 498,600 $ 0 $ 587,200