Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Zachary 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 coat Labor cost Overhead cost Planned fixed costs Manufacturing overhead Selling, general, and administrative conta Selling, general, and administrative. $ 36.10 8.60 3.90 5.50 6.60 $127,000 54,000 Assume that Zachary actually produced and sold 31,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials coat Labor cost Overhead cost Actual fixed costs Manufacturing overhead Belling, general, and administrative costs Selling, general, and administrative Required $35.10 9.80 3.80 5.55 6.40 $112,000 60,000 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 (l.e., zero variance).)