Please analyze the following company information:
		Revenue &
		Spending			Activity
	Actual	Variances		Flexible	Variances		Planning
Quantity Sold	400			400			356
Total Revenues	$20,800,000	$1,200,000	U	$22,000,000	$2,420,000	F	$19,580,000
Total Variable Costs	$5,200,000	$300,000	F	$5,500,000	$605,000	U	$4,895,000
Total Fixed Costs	$7,000,000	$500,000	F	$7,500,000	$ -		$7,500,000
Total Profit	$8,600,000	$400,000	U	$9,000,000	$1,815,000	F	$7,185,000
The $300,000 Favorable Spending Variance for Total Variable Costs consists of the following:
	Direct material price variance		800000	U
	Direct material efficiency variance		800000	F
	Direct labor price variance		0
	Direct labor efficiency variance		300000	F
Indicate for each statement whether or not it is supported by the data provided above.
If the statement is consistent with the data above, answer "T". If not, answer "F".
Higher actual total variable costs versus budgeted total variable costs is driven by higher production than expected.
The company paid more for its direct material per pound, but this resulted in less rework and therefore saved time and material.
The company paid less per labor per hour than budgeted.
The company's profit was $400,000 lower than budgeted before the period started.
The company did a good job managing their fixed costs.
The average price received was lower than budgeted.