Walton Publications established the following standard price and costs for a hardcover picture book that the company produces.

Standard price and variable costs
Sales price	$ 37.00
Materials cost	8.10
Labor cost	4.10
Overhead cost	5.60
Selling, general, and administrative costs	6.80
Planned fixed costs
Manufacturing overhead	$ 132,000
Selling, general, and administrative	49,000

Assume that Walton actually produced and sold 24,000 books. The actual sales price and costs incurred follow:

Actual price and variable costs
Sales price	$ 36.00
Materials cost	8.30
Labor cost	4.00
Overhead cost	5.65
Selling, general, and administrative costs	6.60
Actual fixed costs
Manufacturing overhead	$ 117,000
Selling, general, and administrative	55,000

Required

a. & b. Determine the flexible budget variances and also indicate the effect of each variance by selecting favorable (F) or unfavorable (U).

Note: Select "None" if there is no effect (i.e., zero variance).