Profit variance analysis in a service organization. Sell, Inc., is a marketing consulting firm that earns revenues by billing clients for hours worked. Last year, Sell, Inc.’s billable hours were up...

Profit variance analysis in a service organization. Sell, Inc., is a marketing consulting firm that earns revenues by billing clients for hours worked. Last year, Sell, Inc.’s billable hours were up 10 percent from expected levels, but, as the following data show, profits were lower than anticipated.

Prepare a profit variance analysis for Sell, Inc.