Narcisco Publications established the following standard price and costs for a hardcover picture book that the co mpany produce Standard price and variable costs Sales price $ 90.00 Materials cost 18.00 Labor cost 9.00 Overhead cost 12.60 Selling, general, and administrative costs 14.40 Planned fixed costs Manufacturing overhead Selling, general, and administrative $270,000 108,000 Narcisco planned to make and sell 30,000 copies of the book. 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 29,000 and 31,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 31,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) 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 Net income Master Budget Flexible Budgets Volume Variances 30,000 29,000 31,000 $ EA U U U 0 0 0 U U 0 $ 0 $ 0 U