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Please also give explanation on how you got each number, thanks! Problem 16-55 Profit Variance Analysis (LO 16-4) The results for July for Brahms &

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image text in transcribedPlease also give explanation on how you got each number, thanks!

Problem 16-55 Profit Variance Analysis (LO 16-4) The results for July for Brahms & Sons follow: Actual (based on actual sales of 68,000 units) $520,000 Master Budget (based on budgeted sales 66,000 units) $561,000 Sales revenue Less Variable costs Direct material Direct labor Variable overhead Marketing Administrative Total variable costs Contribution margin Less Fixed costs Manufacturing Marketing Administrative Total fixed costs Operating profits 68,000 83,000 90,000 16,200 14,300 $271,500 $248,500 56,100 99,000 99,000 16,500 16,500 $287,100 $273.900 113,100 24,500 85,600 $223,200 $ 25,300 108,000 16,500 84,000 $208,500 $ 65,400 Required: Prepare a profit variance analysis for Brahms & Sons. 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.) BRAHMS & SONS Profit Variance Analysis Actual (68,000 units) Manufacturing Variance Marketing & Administration Variance Sales Price Variance Flexible Budget (units) Sales Activity Variance Master Budget (66,000 units) $ 561,000 $ 520,000 Sales revenue Variable costs: Manufacturing Direct material Direct labor 68,000 83,000 90,000 16,200 14,300 248,500 56,100 99,000 99,000 16,500 16,500 273,900 $ $ Overhead Marketing Administration Contribution margin Fixed costs: Manufacturing Marketing Administration 113,100 24,500 85,600 25,300 108,000 16,500 84,000 65,400 Operating profit $ $

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