The following operating income statement shows the actual results for July:

Required:

Prepare a profit variance analysis for the Superior Plant for July. $($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.$)$Harlow Parts produces a single product at its Superior Plant. The master budget for July follows:$1$

$75$

points

References

Required:

Prepare a profit variance analysis for the Superior Plant for July. $($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.$)$

$\backslash$table$[[$Profit Variance Analysis$],[,$Actuals,$\backslash$table$[[$Manufacturing$],[$Variances$]],\backslash$table$[[$Selling$,$ General and$],[$Administrative$],[$Variances$]],$Sales Price Variance,Flexible Budget,Sales Activity Variance,$\backslash$table$[[$Master$],[$Budget$]]],[$Quantity$,9,540,,,,,,8,140],[$Revenue$,$$ $1,745,800,,,,,,s,1,546,600$

Harlow Parts

Superior Plant

Master Budget

$($For July$)$

Quantity $8,140$

Revenue $ $1,546,600$

Variable manufacturing cost $586,080$

Variable Selling, General and Administrative cost $97,680$

Contribution margin $ $862,840$

Fixed manufacturing cost $206,000$

Fixed Selling, General and Administrative cost $364,000$

Operating profit $ $292,840$

The following operating income statement shows the actual results for July:

Harlow Parts

Superior Plant

Operating Results

$($For July$)$

Quantity $($units$)9,540$

Revenue $ $1,745,800$

Variable manufacturing cost $756,394$

Variable Selling, General and Administrative cost $110,440$

Contribution margin $ $878,966$

Fixed manufacturing cost $217,040$

Fixed Selling, General and Administrative cost $374,000$

Operating profit $ $287,926$