Problem 8-20A Determining sales and variable cost volume variances Narcisco Publications established the following standard price and costs for a hardcover picture book that the company produces. Narcisco planned to make and sell 30,000 copies of the book. Required a. Prepare the pro forma income statement that would appear in the master budget. b. Prepare flexible budget income statements, assuming production volumes of 29,000 and 31,000 units. c. Determine the sales and variable cost volume variances, assuming volume is actually 31,000 units. d. Indicate whether the variances are favorable (F) or unfavorable (U). e. Comment on how Narcisco could use the variances to evaluate performance