Perez 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 36.80 8.10 3.70 5.60 7.00 Planned fixed costs Manufacturing overhead selling, general, and administrative $130,000 51,000 Perez planned to make and sell 36,000 copies of the book. Required: a. d. Prepare the pro forma income statement that would appear in the master budg assuming production volumes of 35.000 and 37000 units. Determine the sales and variable cost volume variances, assuming volume is actually 37,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., et and also flexible budget income stetements, zero variance).) Master Budget Flexible Budgets Volume Variances 35,000 37,000 Number of units Sales revenue Variable manufacturing costs 1288,000S 1,361,600 Master Budget Flexible Budgets Volume Variances Number of units Sales revenue Variable manufacturing costs 36,000 35,000 37,000 1,324 800,288,000 $1,361,600 Materials Labor Manufacturing overhead Variable selling general, and administrative costs Contribution margin 324,800 1,288,000 1,361,600 Fixed costs Manufacturing overhead Fixed selling, general, and administrative costs Net income s 1,324,800 1,288,000 $ 1,361,600