Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces: Standard price and variable costs Sales price Material's cost gelee Labor cost 18.60 Overhead cost 19.00 selling, general, and administrative costs 12.60 Planned fixed costs 24 48 Manufacturing overhead Selling, general, and administrative $270,090 108,800 Assume that Narcisco actually produced and sold 32,000 books. The actual sales price and costs incurred follow Actual price and variable costs "Sales price! $ 87.09 Materials cost 18.40 Labor cost 8.80 Overhead cost 12.70 Selling, general, and administrative costs 14 .09 Actual fixed costs. Manufacturing overhead $250,009 selling, general, and administrative 116,080 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).) Flexible Budget Variances Sales revenue Vanable manufacturing costs Materials Labor Overhead Selling, general & administrative Contribution margin Fixed costs Manufacturing overhead Selling, general & administrative Net income