2 Finch Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs $ 36.90 8.18 3.80 5.50 6.30 10 points Planned fixed costs Manufacturing overhead Selling, general, and administrative $133,90e 47,800 eBook Print Assume that Finch actually produced and sold 35,000 books. The actual sales price and costs incurred follow: Actual price and variable costs References Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs 5 35.960 8.30 3.70 5.55 6.10 Actual fixed costs Manufacturing overhead Selling, general, and administrative $118,80e 53,e0e Required a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Variances Sales revenue Variable manufacturing costs Materials Labor Overhead Selling, general, and administrative costs Contribution margin Mic Graw Hill Prev 2 of 5Next >