Refer to the data in Exercises 16-16 and 16-17. Prepare a profit variance analysis like the one in Exhibit16.5.

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Flexible Budget (based on actual activity of Master Budget based on planned activity of 100,000 units) Actual (based on actual activity of Manufacturing Marketing and Administrative Variances Sales Price Variance Sales Activity 80,000 units Variance 80,000 unitsVaiances Sales revenue $ 840,000 40,000 F 800,000 200,000 U 1,000,000 ess Variable costs Variable manufacturing costs Variable selling and administrative 329,680 68,000 $442,320 76,000 F 18,000 F $ 424,000 S 106,000 U 630,000 S25,680 Ua 304,000 380,000 $ 4,000 F $4,000 F 40,000 F 72,000 90,000 Contribution margin $ 25,680 U Fixed costs Fixed manufacturing overhead Fixed selling and administrative costs 4,500 F 195,500 132,320 114,500 200,000 200,000 140,000 84,000 106,000o U $ 190.00o 7,680 F 140,000 Profit 21,180 U $11,680 F 40.000 F The individual cost variances are shown in Exhibit 16.11