Problem 15-20 Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 Rooney 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 36.90 8.80 3.80 5.80 6.50 $126,000 50,000 Rooney planned to make and sell 34,000 coples 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 33,000 and 35,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 35,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" If there is no effect (.e., zero varlance).) Volume Variances Master Budget 34,000 Flexible Budgets 33,000 35,000 Number of units Variable manufacturing costs Fixed costs