Thornton Manufacturing Company established the following standard price and cost data:

Sales price	$	8.50	per unit
Variable manufacturing cost	$	3.60	per unit
Fixed manufacturing cost	$	2,900	total
Fixed selling and administrative cost	$	700	total

Thornton planned to produce and sell 2,700 units. Actual production and sales amounted to 2,800 units.

Assume that the actual sales price is $8.10 per unit and that the actual variable cost is $3.95 per unit. The actual fixed manufacturing cost is $2,700, and the actual selling and administrative costs are $720.

Required

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

	Flexible Budget Variances
Sales
Variable manufacturing
Contribution margin
Fixed manufacturing
Fixed selling and administrative cost
Net income (loss)