Problem 15-20A (Algo) Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 Vernon 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 beneral, and seinistrative $36.00 B. 4.00 5.70 6.90 3132,000 40.000 Vernon planned to make and sell 34,000 copies of the book. Required: a.-d. Prepare the proforma 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 () or unfavorable (U) (Select "None" if there is no effect (i.e. zero variance) Volume Variances Master Budget 34000 Flexible Budgets 33,000 35,000 Number of units Variable manufacturing costs 0 Fixed costs $ 0 $ 05 0