Solomon Publications established the following standard price and costs for a hardcover picture book that the company produces $ 36.60 Standard price and variable coste Sales price Materials coat Labor cost Overhead coat Selling, general, and administrative coats Planned Fixed conta Manufacturing overhead Selling general, and administrative 4.50 5.80 7.10 $126,000 54,000 Solomon planned to make and sell 21.000 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 20,000 and 22.000 units. Determine the sales and variable cost volume variances, assuming volumes actually 22,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect.e., zero variance).) Master Flexible Budgets Volume Variances Budget 21.000 Number of units 20,000 22.000 Variable manufacturing costs