Fanning Publications established the following standard price and costs for a hardcover picture book that the company produces Standard price and variable costs Sales price Materials cost Labor cost Overhead coat Selling, general, and administrative costa Planned fixed costs Manufacturing overhead Selling, general, and administrativo 536.00 8.00 3.60 6.30 6.60 $127.000 48,000 Fanning planned to make and sell 23,000 copies of the book Required: a.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 22,000 and 24,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 24,000 units. Indicate whether the varlances are favorable (F) or unfavorable (U). (Select "None" If there is no effect fle. zero variance).) Volume Variances Number of units Master Budget 23,000 Flexible Budgets 22.000 24,000 Variable manufacturing costs Fored costs