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 Materials cost Labor cost Overhead cost Selling, general, and administrative costs $ 45.00 9.00 4.50 6.30 7.20 Planned fixed costs Manufacturing overhead Selling, general, and administrative $135,000 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 Materials cost Labor cost Overhead cost Selling, general, and administrative costs $ 43.50 9.20 4.40 6.35 7.00 Actual fixed costs Manufacturing overhead Selling, general, and administrative $125,000 58,000