Exercise 8-5A (Algo) Determining flexible budget variances LO 8-4 Perez Manufacturing Company established the following standard price and cost data: Perez planned to produce and sell 2,800 units. Actual production and sales amounted to 3,000 units. Assume that the actual sales price is $7.70 per unit and that the actual variable cost is $3.80 per unit. The actual fixed manufacturing cost is $2,200, and the actual selling and administrative costs are $725. 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)