Use the standard price and cost data provided in Exercise 8-1B. assume the actual sales price was 14.75 per unit and the actual variable cost was $6.80 per unit. the actual fixed manufacturing cost was $33,500 and the actual selling and administrative expenses were $23,500.

a. Determine the flexible budget variances.

b. Classify the variances as favorable or unfavorable.

c. Provide another name for the fixed cost flexible budget variances d. Comment on the usefullness of variances with respect to performance evaluation and identify members of the management team that are most likely to be responsible for variances.