Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Finch 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 36.40 8.90 3.90 5.60 7.10 $129,000 46,000 Assume that Finch actually produced and sold 37,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Actual fixed costs Manufacturing overhead Selling, general, and administrative 35.40 9.10 3.80 5.65 6.90 $114,000 52,000 Required a. & b. Determine the flexible budget variances and also indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)