Problem 15-20A (Algo) Determining sales and variable cost volume variances LO 15-2, 15-3, 15-4 Gibson Publications established the following standard price and costs for a hardcover picture book that the company produces. 8 points Standard price and variable costs Sales price Materials cost Labor cost Overhead cost ellock Planned fixed costs 10 ences Selling, general, and administrative costs Manufacturing overhead Selling, general, and administr $ 36.101 8.40 3.90 6.20 6.60 $134,000 69,000 Gibson 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 (.e.. zero variance).) Number of units Variable manufacturing costs Fed co Master Budget 29,000 Flexible Budgets Volume Variances 28,000 30,000 Save & Exi Check my work