Determining and interpreting flexible budget variances Use the standard price and cost data supplied in Problem 8-18B. Assume that Vlascenko actually produced and sold 216,000 units. The actual sales price and costs incurred follow.

Required
a. Determine the flexible budget variances. Provide another name for the fixed cost flexible budget variances.
b. Indicate whether each variance is favorable (F) or unfavorable (U).
c. Identify the management position responsible for each variance. Explain what could have caused the variance.

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Actual price and variable costs Sales price $25.80 Materials cost 8.80 Labor cost 2.68 Overhead cost Selling, general, and administrative costs Actual fixed costs 0.56 4.40 Manufacturing overhead Selling, general, and administrative costs $512,000 356,000