Munoz 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 8.80 Labor cost 3.80 Overhead cost 5.50 Selling, general, and administrative costs 7.10 Planned fixed costs Manufacturing overhead $ 133,000 Selling, general, and administrative 44,000 Assume that Munoz actually produced and sold 38,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 36.00 Materials cost 9.00 Labor cost 3.70 Overhead cost 5.55 Selling, general, and administrative costs 6.90 Actual fixed costs Manufacturing overhead $ 118,000 Selling, general, and administrative 50,000 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).)