Complete the following variance analysis report.

Variance Analysis Report Actual Budget Variances

REVENUE 320,000 318,750

Direct Expense (variable) 101,000 100,000

Allocated general expenses (fixed) 78,000 80,000

Allocated service expenses:

Department 1 20,500 20,000

Department 2 65,000 62,500

Department 3 101,500 100,000

TOTAL EXPENSES

NET INCOME