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Problem 15-20A (Algo) Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 Walton 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 $36.80 8.60 4.10 5.90 6.30 5133,000 S8,000 Walton planned to make and sell 31.000 copies of the book Required: 2.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 30,000 and 32,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 32,000 units. Indicate whether the variances are favorable (F) or unfavorable (U) (Select "None" if there is no effect (i... zero variance).) Master Budget 31,000 Flexible Budgets 30.000 32,000 Volume Variances Number of units Variable manufacturing costs Fbxed costs