Problem 16-60 (Algo) Profit Variance Analysis (LO 16-4) Nottingham Forest Products reports the following information concerning...

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Problem 16-60 (Algo) Profit Variance Analysis (LO 16-4) Nottingham Forest Products reports the following information concerning operations for the most recent month: Actual (based on actual sales of 4,980 units) $ 237,700 Master Budget (based on budgeted sales of 4,150 units) $ 195,050 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing 50,362 39,060 31,580 27,260 16,668 13,160 7,865 6,260 7,275 6,560 $ 92,300 $ 102,750 $ 113,750 $123,950 39,020 14,920 9,600 Marketing Administrative 37,460 12,260 10,460 Total fixed costs $ 63,540 $ 60,180 Operating profits $ 60,410 $ 42,570 There are no inventories. Required: Prepare a profit variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. 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. NOTTINGHAM FOREST PRODUCTS Profit Variance Analysis Actual (4,980 Units) Manufacturing Variance Marketing and Administrative Variance Sales Price Variance Flexible Budget (4,980 Units) $ 237,700 Sales Activity Variance Master Budget (4,150 Units) $ 195,050 Sales revenue Variable costs: Manufacturing costs: Direct labor 50,362 Materials 31,580 Overhead 16,668 Marketing 7,865 Administrative 7,275 39,060 27,260 13,160 6,260 6,560 Problem 16-60 (Algo) Profit Variance Analysis (LO 16-4) Nottingham Forest Products reports the following information concerning operations for the most recent month: Actual (based on actual sales of 4,980 units) $ 237,700 Master Budget (based on budgeted sales of 4,150 units) $ 195,050 Sales revenue Less Manufacturing costs Direct labor Materials Variable overhead Marketing Administrative Total variable costs Contribution margin Fixed costs Manufacturing 50,362 39,060 31,580 27,260 16,668 13,160 7,865 6,260 7,275 6,560 $ 92,300 $ 102,750 $ 113,750 $123,950 39,020 14,920 9,600 Marketing Administrative 37,460 12,260 10,460 Total fixed costs $ 63,540 $ 60,180 Operating profits $ 60,410 $ 42,570 There are no inventories. Required: Prepare a profit variance analysis for Nottingham Forest Products. Note: Do not round intermediate calculations. 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. NOTTINGHAM FOREST PRODUCTS Profit Variance Analysis Actual (4,980 Units) Manufacturing Variance Marketing and Administrative Variance Sales Price Variance Flexible Budget (4,980 Units) $ 237,700 Sales Activity Variance Master Budget (4,150 Units) $ 195,050 Sales revenue Variable costs: Manufacturing costs: Direct labor 50,362 Materials 31,580 Overhead 16,668 Marketing 7,865 Administrative 7,275 39,060 27,260 13,160 6,260 6,560