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).)

Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs $ 90.00 18.00 9.00 12.60 14.40 Planned fixed costs Manufacturing overhead Selling, general, and administrative $270,000 108,000