Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs $36.50 8.40 4.20 6.00 6.50 Planned fixed costs Manufacturing overhead Selling, general, and administrative $128,000 1,000 Franklin planned to make and sell 29,000 copies of the book Required: a. d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements assuming production volumes of 28,000 and 30,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 30,000 units, Indicate whether the variances are favorable (F) or unfavorable (U), Select None if there is no effecet .e zero varlance).) Master Budget Flexible BudgetsVolume Variances 9,000 28,000 30,000 Number of units Sales revenue Variable manufacturing costs Materials Labor Manufacturing overhead Varia ble selling general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Fixed selling, general, and administrative costs D S Net income