Perez Manufacturing Company established the following standard price and cost data: Sales price $ 8.30 per unit Variable manufacturing cost $ 4.00 per unit Fixed manufacturing cost $ 2,500 total Fixed selling and administrative cost $ 600 total Perez planned to produce and sell 2,200 units. Actual production and sales amounted to 2,300 units.

Assume that the actual sales price is $7.95 per unit and that the actual variable cost is $4.15 per unit. The actual fixed manufacturing cost is $1,900, and the actual selling and administrative costs are $635. Required a.&b. Determine the flexible budget variances and classify the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)