Tom and Tim Landry started Excel Painters in 2016 when they were seniors in college. Fully bonded and insured, Excel Painters specializes in faux finishes using techniques such as sponging, washing, marbleizing, and ragging. While Tom and Tim used to work all of the painting themselves, they now manage the business, employing a mix of college students and other individuals who have some experience and interest in decorative painting. Tom and Tim also provide extensive training in faux finishing techniques to all of their employees and routinely visit worksites to ensure that jobs meet their quality standards.

Tom and Tim budget for 25,000 square feet of business a month. The average job is 500 square feet, and, for such a job, Tom and Tim expect to incur the following costs:

Materials (Paint): 1.6 gallons @ $25 per gallon

Materials (Supplies): $10.00

Labor: 16 hours @ 15.00 per hour

Tom and Tim budget to pay a total of $2,000 per month in fixed costs related to office rent, utilities, advertising, and the company car. The average job is billed out at $550.

For August, typically a very busy month, Excel Painters earned $25,333 in revenue for several different jobs totaling 24,000 square feet. Excel Painters used 72 gallons of paint and 765 hours of labor during August. The 765 hours of labor cost Tom and Tim $11,475, which includes the 32 hours it took to clean up the mess in a customer's home because an employee accidentally tipped over a full can of paint. Tom and Tim also waived the painting cost ($650) that had been quoted to this customer.

According to the bill from the hardware store, Tim and Tom spent $2,160 on paint and $480 on painting supplies during August. The bill for paint was higher than normal because Tom and Tim decided to try a newer, more expensive paint in the hope that it would lead to improved paint and labor efficiencies (Tim and Tom did not expect this decision to affect the amount of supplies used.) Finally, Tom and Tim spent $2,250 for the month on fixed costs.

Question. What was Excel Painters' master budget profit and actual profit for August? What was Excel Painters' total profit variance?