Solomon Publications established the following standard price and costs for a hardcover picture book that the company produces.

Standard price and variable costs
Sales price	$	37.00
Materials cost		8.00
Labor cost		3.70
Overhead cost		5.50
Selling, general, and administrative costs		6.90
Planned fixed costs
Manufacturing overhead	$	127,000
Selling, general, and administrative		48,000

Assume that Solomon actually produced and sold 24,000 books. The actual sales price and costs incurred follow:

Actual price and variable costs
Sales price	$	36.00
Materials cost		8.20
Labor cost		3.60
Overhead cost		5.55
Selling, general, and administrative costs		6.70
Actual fixed costs
Manufacturing overhead	$	112,000
Selling, general, and administrative		54,000

Required

a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)