5 10 Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Rooney Publications established the following standard price and costs for a hardcover pic book that the company produces Standard price and variable costs Sales price Labor cost Materials cost Overhead cost Planned fixed costs Manufacturing overhead Selling, general, and administrative costs Selling, general, and administrative 136.40 8.40 3.60 5.50 7.18 $134,000 $1,000 Assume that Rooney actually produced and sold 33,000 books. The actual sales price and costs incurred follow. Actual price and able costs Sales price Materials cost Labor cost Overhead cost Actual fixed costs Manufacturing overhead Selling, general, and inistrative costs Selling, general, and administrative Required $35.40 8.60 3.50 5.55 6.90 $119,000 57,000 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 (ie., zero variance).) sales reveove Flexible Budget Variances