a. & b.Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) orunfavorable (U).(Select "None" if there is no effect (i.e., zero variance).)

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Rundle Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.40 Materials cost 8.30 Labor cost 3.60 Overhead cost 5.80 Selling, general, and administrative costs 6.90 Planned fixed costs Manufacturing overhead $133,000 Selling, general, and administrative 45,000 Assume that Rundle actually produced and sold 34,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.40 Materials cost 8.50 Labor cost 3.50 Overhead cost 5.35 Selling, general, and administrative costs 6.70 Actual fixed costs Manufacturing overhead $118,000 Selling, general, and administrative 51,000 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\" Sales revenue $ 22,000 Variable manufacturing costs _- -- Overhead Selling, general,and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general, and administrative costs Net income