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 $ 90.00 18.00 9.00 12.60 14.40 Planned fixed costs Manufacturing overhead Selling, general, and administrative $270,000 108,900 Narcisco planned to make and sell 30,000 copies of the book. Required a. d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements assuming production volumes of 29,000 and 31,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 31,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Answer is not complete aster Budget Flexible Budgets Volume Variances 31,000 2,610,000-12.790.000 ?$ 90,000 ? F 446,400 29,000 Number of units Sales revenue Variable manufacturing costs 30,000 432,000 417,600 14,400 U Variable selling general, and administrative costs Materials Labor Manufacturing Overhead e 540,000? 522,000. 558,000 18,000 e 270,000 ? 2610000 279,000 9.000 378,000 365,400390,60012,600 U 1,080,000 1,044,000 1,116,000 Contribution margin Fixed costs Manufacturing Overhead Fixed selling, general, and administrative costs 270,000270,000270,000 108,000 $ 702,000 666,000 738,000 0 None 0 None 108,000 108,000