Standard price and variable costs Sales price Materials cost Selling, general, and administrative costs Labor cost Overhead cost Planned fixed costs Manufacturing overhead Selling, general, and administrative. $ 36.10 8.50 3.70 6.30 7.00 $130,000 53,000 Thornton planned to make and sell 30,000 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 29,000 and 31,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 31,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Number of units Variable manufacturing costs Fixed costs Master Budget Flexible Budgets Volume Variances 30,000 29,000 31,000 0 0 $ 0 $ 0 $