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 Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned Fixed costs Manufacturing overhead Selling, general, and administrative $36.60 8.30 4.00 6.10 7.00 $129,000 49,882 Munoz planned to make and sell 37.000 coples of the book. Required: a.-d. Prepare the proforma Income statement that would appear in the master budget and also flexible budget Income statements, assuming production volumes of 36.000 and 38.000 units. Determine the sales and variable cost volume variances, assuming volume Is actually 38.000 units. Indicate whether the varlances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (Le.. zero variance).) Volume Variances Master Budget 37,000 Flexible Budgets 38,000 38,000 Number of units Variable manufacturing costs Fixed costs $ 0 $ 0 $ 0