Seved 6 Jordan Publications established the following standard price and costs for a hardcover picture book that the company produces 4.2 points $36.00 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 8.70 3.70 5.50 Book 6.60 $120,000 45,000 Print References Jordan planned to make and sell 32.000 copies of the book Required: ... d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 31,000 and 33,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 33,000 units. Indicate whether the variances are favorable ) or unfavorable (U). (Select "None" if there is no effectie, zero variance)) Master Budget 32,000 Flexible Budgets 31.000 33 000 Volume Variances Number of units Sales revenue Variable manufacturing costs Materials Labor Manufacturing overhead Variable seling general, and administrative costs Contribution margin Fbed costs Manufacturing overhead FBced selling general, and administrative costs Net income OS $