Lloyd Publications established the following standard price and costs for a hardcover picture book that the company produces.

Standard price and variable costs
Sales price	$	37.00
Materials cost	8.30
Labor cost	3.70
Overhead cost	6.30
Selling, general, and administrative costs	6.90
Planned fixed costs
Manufacturing overhead	$	133,000
Selling, general, and administrative	47,000

Assume that Lloyd actually produced and sold 36,000 books. The actual sales price and costs incurred follow.

Actual price and variable costs
Sales price	$	36.00
Materials cost	8.50
Labor cost	3.60
Overhead cost	6.35
Selling, general, and administrative costs	6.70
Actual fixed costs
Manufacturing overhead	$	118,000
Selling, general, and administrative	53,000

Required

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