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 450,000 units) $4,968,000 Master Budget (based on budgeted orders for 480,000 units) $4,800,000 Sales revenue Less Variable costs Materials Direct labor Variable overhead Variable marketing and administrative 1,440,000 276,000 674,400 468,000 $2,858,400 $2,109,600 1,440,000 336,000 624,000 480,000 Total variable costs Contribution margin Less Fixed costs 988,800 288,000 204,000 $1,480,800 $628,800 960,000 288,000 180,000 1.428,000 S 492,000 Administrative Total fixed costs Operating profits 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, ING. Profit Variance Analysis Manufacturing Variances Marketing and Administrative Sales Price Variance Flexible Sales Activity Master Budget Actual Variance Budget Sales revenue $4,968,000 $4,800,000 Variable costs Materials Direct labor Variable overhead Variable marketing and administrative 1,440,000 276,000 674,400 468,000 $2,858,400 $2,109,600 1,440,000 336,000 624,000 480,000 2,880,000 $1,920,000 Total variable costs Contribution margin Fixed costs: Manufacturing overhead Marketing Administrative 988,800 288,000 204,000 $1,480,800 628,800 960,000 288,000 180,000 Total fixed costs $ 1,428,000 $492,000 Operating profits