Exercise $16-25($Algo$)$ Profit Variance Analysis $($LO $16-4)$

The master budget at Monroe Manufacturing last period called for sales of $43,400$ units at $$56$ each. The costs were estimated to be $$40$ variable per unit and $$538,000$ fixed. During the period, actual production and actual sales were $46,400$ units. The selling price was $$55$ per unit. Variable costs were $$42$ per unit. Actual fixed costs were $$529,000.$

Required:

Prepare a profit variance analysis.

Note: 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.

References

$\backslash$table$[[$Monroe Manufacturing$],[$Profit Variance Analysis$],[,$Actual,$\backslash$table$[[$Manufacturing$],[$Variances$]],$Sales Price Variance,Flexible Budget,$\backslash$table$[[$Sales Activity$],[$Variance$]],$Master Budget$],[$Sales revenue,,,,$30,,],[$Less:$],[$Variable costs,,,$\frac{8}{0},,,F1S,],[$Contribution margin,$$,0,\frac{F}{1},FN,$$$,\frac{F}{V},$$