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

Assume that Solomon actually produced and sold 28,000 books. The actual sales price and costs incurred follow: Required a. \& b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U). Note: Select "None" if there is no effect (i.e., zero variance)