Exercise 15-8A (Algo) Determining flexible budget variances LO 15-3, 15-5 Fanning Manufacturing Company established the following standard price and cost data: Fanning planned to produce and sell 2,400 units. Actual production and sales amounted to 2,700 units. Assume that the actual sales price is $8.15 per unit and that the actual variabie cost is $3.45 per unit. The actual fixed manufacturing cost is $1,600, and the actual selling and administrative costs are $840. Required a.\&b. Determine the flexible budget variances and classify the variances by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)