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 $36.20 8.90 3.80 5.70 6.60 $127,600 50,000 Munoz planned to make and sell 26,000 copies of the book Required: 0, d. Prepare the proforma income statement that would appear in the master budget and also flexible budget income statement assurning production volumes of 25000 and 21000 units Determine the sales and variable cost volume variances, assuming volut is actually 1000 units, friedicate whether the variances are favorable (F) or unfavorable (U) (Select "Nome" there is no effect (... zero variance) Number of units o renue Variable manufacturing costs Master Budget Flexible Budgets 26.900 25.000 27 000 5 941.200 5.505.000 TL Labor 13 il Next > 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 25,000 and 27,000 units. Determine the sales and variable cost volume variances, assuming volum is actually 27,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Volume Variances Master Budget Flexible Budgets 26,000 25,000 27,000 $ 941,200 $ 905,000 $ 977,400 U U Number of units Sales revenue Variable manufacturing costs Materials Labor Manufacturing overhead Fixed selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Fixed selling, general, and administrative costs Not income U U 941,200 905.000 977 400 None None $ 941,200 $ 905,000 $ 977 400 Pro 1 of 3 Next >