Cherokee Manufacturing Company established the following standard price and cost data:

Sales price$12.00 per unit

Variable manufacturing cost$7.20 per unit

Fixed manufacturing cost$3,600 total

Fixed selling and administrative cost$1,200 total

Cherokee planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units.

Assume that the actual sales price is $11.76 per unit and that the actual variable cost is $6.90 per unit. The actual fixed manufacturing cost is $3,000, and the actual selling and administrative costs are $1,230.

Required

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

Flexible Budget Variances

Sales

Variable Manufacturing

Contribution Margin

Fixed Manufactoring

Fixed Selling and Administrative Cost

Net Income (Loss)