SJM Ltd has prepared the following income statement information showing the actual contribution margin earned from the sale of its only product, and the planned contribution margin.

	Budget			Actual
Sales — units Sales — dollars Variable expenses	$	3200 480000 256000		$	3000 468000 255000
contribution margin	$	224000		$	213000

Required

Calculate the sales price variance, the sales volume variance, and the variable expense variance. Report to your manager on what is revealed in the analysis.