Baird Publications established the folowing standard price and costs for a hardcover picture book that the company produces $ 36.60 8.90 3.60 5.90 Standard price and variable costs Sales Price Materiale cost Labor cost Overhead cost Selling general, and administrative coats planned fixed costs Manufacturing overhead Selling, general, and administrative 6. 30 $131,000 45,000 Assume that Balrd actually produced and sold 30,000 books. The actual sales price and costs incurred follow $ 35.60 9.10 3.50 Netual price and variable costs Sales price Materials coat Labor cost Overhead cost Selling, general, and administrative coats retual fixed costs Manufacturing overhead Selling general, and administrative 6. 10 $116,000 51,000 Required 3. & 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 (.e, zero variance.) Flexible Budget Variances Sales revenue Variable manufacturing costs Materials Labor Overhead Selling general and administrative costs Contributon margin Foxed costs Manufacturing overhead Seling. general, and administrative costs Net Income