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

$$36\mathrm{.}76$

Haterials cost

$820$

Labor cast

$4\mathrm{.}40$

Oyerhead cost

$5\mathrm{.}90$

Selling, general, and administrative costs

$7\mathrm{.}10$

Planned fired costs

Manufacturing overhead

$131,000$

Selling, general, and administrative

$47,000$

Assume that Baird actually produced and sold $20,000$ books. The actual sales price and costs incurred follow:

Actual price and variable costs

Sales price

Materials cost

$$35\mathrm{.}70$

Labor cost

$8\mathrm{.}40$

Overhead cost

$4.30$

seliing, general, and administrative costs

$5\mathrm{.}95$

$6\mathrm{.}90$

Actual fixed costs

Manufacturing overhead

$ $116,060$

Sell$$ng$,$ general, and administrative

$53,090$

Required

a$.$ & b$.$ Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable $($F$)$ or unfavorable $($U$).$

Note: Select "None" if there is no effect $($i$.$e$.,$ zero variance$).$

$\backslash$table$[[,\backslash$table$[[$Flexible Budget$],[$Variances$]]],[$Sales revenue$],[$Variable manufacturing costs$],[$Materials$],[$Labor:$],[$Overhead$],[$Selling$,$ general, and administrative costs$],[$Contribution margin$],[$Fixed costs$],[$Manuiacturing overhead$],[$Selling$,$ general, and administrative costs$],[$Net income,$]]$