Standard price and variable costs Sales price Materials cost Labor cost S 36.80 8.20 4.40 Overhead cost 6.10 Selling, general, and administrative costs 6.60 Planned fixed costs Manufacturing overhead Selling, general, and administrative $133,000 53,000 Baird planned to make and sell 34,000 copies of the book. Required: a. d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 33,000 and 35,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 35,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e. zero variance).) Flexible Budgets Master Budget Volume Variances Number of units 34,000 33,000 35,000 Sales revenue Variable manufacturing costs U Materials Labor Manufacturing overhead Variable selling general, and administrative costs Contribution margin 0 0 0 Fixed costs Manufacturing overhead Fixed selling, general, and administrative costs 0$ 0$ Net income 0