Vernon Publications established the following standard price and costs for a hardcover picture book that the company produces Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative $36.80 8.60 4.40 6.20 6.60 5127.000 48,008 Vernon planned to make and sell 35,000 copies of the book. Required: 3.-d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget Income statements. assuming production volumes of 34,000 and 36,000 units Determine the sales and variable cost volume variances, assuming volume is actually 36.000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effectie, zero variance).) Master Budget 35.000 Volume Variances Number of units Flexible Budgets 34.000 36,000 Variable manufacturing costs Food costs