Baird 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 $ 36.70 8.80 4.20 6.00 6.30 Planned fixed costs Manufacturing overhead Selling, general, and administrative $127,000 52,000 Assume that Baird actually produced and sold 24,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs 35.70 9.00 4.10 6.05 6.10 Actual fixed costs Manufacturing overhead Selling, general, and administrative $112,000 58,000 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).)