Saved Benson 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 Hanufacturing overhead Selling, general, and administrative $36.50 8.30 3.50 6.80 7.20 $130,000 48,000 Benson planned to make and sell 33,000 copies of the book Required: 0.-d. Prepare the proforma income statement that would appear in the master budget and also flexible budget Income statements, assuming production volumes of 32,000 and 34,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 34.000 units Indicate whether the variances are favorable (F) or unfavorable (U) (Select "None" if there is no effect (le, zero variance).) Volume Variances Master Budget 33,000 Flexible Budgets 32.000 34.000 Number of units Sales revenue Variable manufacturing costs Materials Labor Manufacturing overhead Variable selling general and administrative costs Contribution margin Food cost Manufacturing overhead Fixed Sling general, and administrative costs Net income 0 S 05 Ols