Zachary 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 Actual price and variable costs Sales price Materials cost Assume that Zachary actually produced and sold 21,000 books. The actual sales price and costs incurred follow Labor cost Overhead cost Selling, general, and administrative costs Actual fixed costs Manufacturing overhead Selling, general, and administrative $36.80 8.60 4.10 6.00 6.70 Sales revenue Variable manufacturing costs $131,000 52,000 Materials Labor $ 35.80 8.80 4.00 6.05 6.50 Required a. & b. Determine the flexible budget variances and also indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) $116,000 58,000 Flexible Budget Variances