Gibson 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 $ 36.50 8.80 3.90 5.70 6.20 $127,000 45,000 Assume that Gibson actually produced and sold 27,000 books. The actual sales price and costs incurred follow . ences Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Actual fixed costs Selling, general, and administrative costs. Manufacturing overhead Selling, general, and administrative! $ 35.50 9.00 3.80 5.75 6.00 $112,000 51,000