Exercise 8-5A (Algo) Determining flexible budget variances LO 8-4 Munoz Manufacturing Company established the following standard price and cost data: Sales price Variable manufacturing cost Fixed manufacturing cost Fixed selling and administrative cost $ 8.10 per unit $ 3.80 per unit $ 2,700 total $ 600 total Munoz planned to produce and sell 2,200 units. Actual production and sales amounted to 2,300 units. Assume that the actual sales price is $7.85 per unit and that the actual variable cost is $4.05 per unit. The actual fixed manufacturing cost is $2,000, and the actual selling and administrative costs are $625. Required a.&b. Determine the flexible budget variances and classify the effect of each variance by selecting favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance). Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative cost Net income (loss) Flexible Budget Variances