Jordan Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 36.20 Materials cost 8.90 Labor cost 3.70 Overhead cost 5.40 Selling, general, and administrative costs 7.00 Planned fixed costs Manufacturing overhead $ 128,000 Selling, general, and administrative 49,000 Assume that Jordan actually produced and sold 40,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price $ 35.20 Materials cost 9.10 Labor cost 3.60 Overhead cost 5.45 Selling, general, and administrative costs 6.80 Actual fixed costs Manufacturing overhead $ 113,000 Selling, general, and administrative 55,000 Required 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 (i.e., zero variance).)

Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Jordan Publications established the following standard price and costs for a hardcover picture book that the company produces. Assume that Jordan actually produced and sold 40,000 books. The actual sales price and costs incurred follow: Required 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 (i.e., zero variance).)