Munoz Manufacturing Company established the following standard price and cost data:

Sales price	$	8.20	per unit
Variable manufacturing cost	$	3.00	per unit
Fixed manufacturing cost	$	2,500	total
Fixed selling and administrative cost	$	600	total

Munoz planned to produce and sell 2,900 units. Actual production and sales amounted to 3,100 units.

Assume that the actual sales price is $7.80 per unit and that the actual variable cost is $3.35 per unit. The actual fixed manufacturing cost is $1,800, and the actual selling and administrative costs are $620.

Required

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

Flexible Budget Variances Sales Variable manufacturing Contribution margin Fixed manufacturing Fixed selling and administrative cost Net income (loss)