Benson Publications established the following standard price and costs for a hardcover picture book that the company produces.

Standard price and variable costs
Sales price	$	36.90
Materials cost		8.30
Labor cost		3.60
Overhead cost		6.10
Selling, general, and administrative costs		6.60
Planned fixed costs
Manufacturing overhead	$	127,000
Selling, general, and administrative		51,000

Assume that Benson actually produced and sold 32,000 books. The actual sales price and costs incurred follow:

Actual price and variable costs
Sales price	$	35.90
Materials cost		8.50
Labor cost		3.50
Overhead cost		6.15
Selling, general, and administrative costs		6.40
Actual fixed costs
Manufacturing overhead	$	112,000
Selling, general, and administrative		57,000

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).)

	Flexible Budget Variances
Sales revenue
Variable manufacturing costs
Materials
Labor
Overhead
Selling, general,and administrative costs
Contribution margin
Fixed costs
Manufacturing overhead
Selling, general, and administrative costs
Net income