Lloyd Publications established the following standard price and costs for a hardcover picture book that the company produces. Standard price and variable costs Sales price $ 45.00 Materials cost 9.00 Labor cost 4.50 Overhead cost 6.30 Selling, general, and administrative costs 7.20 Planned fixed costs Manufacturing overhead $ 135,000 Selling, general, and administrative 54,000 Assume that Lloyd actually produced and sold 32,000 books. The actual sales price and costs incurred follow. Actual price and variable costs Sales price $ 43.50 Materials cost 9.20 Labor cost 4.40 Overhead cost 6.35 Selling, general, and administrative costs 7.00 Actual fixed costs Manufacturing overhead $ 125,000 Selling, general, and administrative 58,000