Problem 15-20A (Algo) Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 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 Materials cost Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative 36.30 8.50 3.80 5.80 6.70 $134,000 54,000 Jordan planned to make and sell 29,000 copies of the book. Required: a. - d. Prepare the pro forma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 28,000 and 30,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 30,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Number of units Sales revenue Variable manufacturing costs Materials Labor Master Budget Flexible Budgets Volume Variances 29,000 1,052,700 28,000 30,000 246,500 110,200 Manufacturing overhead 168,200 Variable selling general, and administrative costs 527,800 0 Fixed costs Manufacturing overhead 134,000 134,000 Fixed selling, general, and administrative costs 54,000 54,000 134,000 54,000 0 None 0 None $ 339,800 $-188,000 $ -188,000