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 Materials cost Labor cost Overhead cost Selling general, and administrative costs Planned fixed costs Manufacturing overhead Selling general, and administrative $99.00 18.00 9.00 12.60 14.40 $270,000 105,800 Assume thot Narcisco actually produced and sold 32.000 books. The actual sales price and costs incurred follow Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling general, and dinistrative costs Actual ficouts Manufacturing overhead Selling general, and dinistrative $ 37.00 15.00 8.30 12.70 14.00 $250,000 116,000 Required ..& 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 fi.e., zero variance).) Answer is not complete. Flexible Budget Variances $ 90 Sales revenue Variable manufacturing costs Materials Labor 183 9 13 14 Overhead Selling general administrative Contribution margin Food costs Manufacturing overhoed Solinggonen & distrative Net income