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

Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow. 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).)