Please review and advise, gave me too many errors. I have posted my work earlier, please see doc I have sent earlier, is a part of this one.

The company carries no inventories. The master budget calls for the company to manufacture and sell 120,000 liters at a budgeted price of $225 per liter this year. The standard direct cost sheet for one liter of the preservative follows.

Direct materials(2 pounds @ $14)$28Direct labor(0.5 hours @ $44)22

Variable overhead is applied based on direct labor hours. The variable overhead rate is $120 per direct-labor hour. The fixed overhead rate (at the master budget level of activity) is $60 per unit. All non-manufacturing costs are fixed and are budgeted at $2.2 million for the coming year.

At the end of the year, the costs analyst reported that the sales activity variance for the year was $690,000 unfavorable.

The following is the actual income statement (in thousands of dollars) for the year.

Sales revenue$25,938Less variable costsDirect materials2,788Direct labor1,110Variable overhead1,030Total variable costs$4,928Contribution margin$21,010Less fixed costsFixed manufacturing overhead1,150Non-manufacturing costs1,330Total fixed costs$2,480Operating profit$18,530

Required:

needs a profit variance analysis.(Enter your answers in thousands of dollars. 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.)

ActualManufacturing VariancesNon-Manufacturing VariancesSales Price VarianceFlexible BudgetSales Activity VarianceMaster BudgetSales revenue

$

25,938

$

372U

$

26,310

$

690U

$

27,000Materials2,788

$

486F3,27486F3,360Direct labor1,110

$

1,463F2,57367F2,640Variable overhead1,030

$

5,986F7,016184F7,200Total variable costs

$

4,928

$

7,935F

$

12,863

$

337F

$

13,200Contribution margin

$

21,010

$

7,563F

$

13,447

$

353U

$

13,800Fixed costs:Manufacturing1,150

$

6,050F

$

7,2000

$

7,200Non-manufacturing1,330870F2,20002,200Total fixed costs

$

2,480

$

9,4000

$

9,400Operating profits

$

18,530

$

14,483

$

4,047

$

353U

$

4,400