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 Standard price and variable costs Sales price Materials cost Labor cost Overhead cost Planned fixed costs. Manufacturing overhead Selling, general, and administrative costs Selling, general, and administrative $ 36.60 8.90 3.50 5.50 6.50 $131,000 51,000 Gibson planned to make and sell 28,000 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 statem assuming production volumes of 27,000 and 29,000 units. Determine the sales and variable cost volume variances, assuming is actually 29,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect zero variance).) Number of units Variable manufacturing costs Master Budget 28,000 Flexible Budgets 27,000 Volume Variances 29,000 < Prev 1 of 3 Next >