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 Master Budget (based on budgeted orders for 502,000 units) $5,020,000 461,000 units) $4,979,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin 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 Less Fixed costs Manufacturing overhead Marketing Administrative 961,100 299,000 181,100 $1, 991,000 299,000 215,000 $1,505,000 Total fixed costs ,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.)

Please "show all work" for the profit variance analysis

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) $4,979,000 Master Budget (based on budgeted orders for 5e2,000 units) $5.020,000 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 1,495,000 287,000 675,500 490,000 $2.947,500 $2,031,500 1,506,00 351,400 652,600 502,000 $3,012,000 $2,000,000 991,000 299,000 215,000 $1,505,000 $ 526,500 961,100 299,000 181, 100 31,4411200 $ 566,600 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 Pront Variance Analysis Marketing and Manufacturing Adininistrative Variances Variances Actual Sales Price Variance Flexible Budget Sales Activity Variance $ 4.979,000 Mister Budget $ 5,020,000 Sales revenue Variable costs Materials Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin Fbed costs Manufacturing overhead Marloting Administrative Total fixed costs Operating profits 1.495,000 287,000 675,500 490,000 $ 2.947,500 5 2031,500 1.506,000 351,400 652,600 502 000 5 3 012 000 $ 2,008,000 991000 299,000 215,000 $ 1.505,000 5526,500 961 100 299,000 181100 5 1441,200 $ 550.000