The options for the drop down boxes on the left side of table are as follows:

1. Fixed selling, general, and administrative costs

2. labor

3. manufacturing overhead

4. materials

5. sales revenue

6. variable selling general, and administrative costs

Baird 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 36.30 8.10 4.30 6.10 6.90 $134,000 53,000 Baird planned to make and sell 31,000 copies of the book. Required: a.. d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 30,000 and 32,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 32,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect i.e., zero variance).) Volume Variances Master Budget 31,000 Flexible Budgets 30,000 32,000 Number of units Variable manufacturing costs Fixed costs Net income Net loss