5.2 Saved Fanning 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 Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.10 8.60 4.10 5.50 6.50 $127,000 52,000 eBook Fanning planned to make and se 40,000 copies of the book. eferences Required: a.-d. Prepare the pro forma income statement that would appear in the master budget so flexible budget income statements, assuming production volumes of 39,000 and 41,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 41,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (.e., zero variance).) Volume Variances Master Budget 40,000 Flexible Budgets 39,000 41,000 Number of units Variable manufacturing costs 0 0 $ 0 $ 0 $ 0