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 5 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 8.90 4.50 6.20 6.50 $130,000 52,000 Jordan planned to make and sell 32,000 copies of the book. Required: 0.-d. Prepare the proforma income statement that would appear in the master budget and also flexible budget income statements, assuming production volumes of 31,000 and 33,000 units Determine the sales and variable cost volume variances, assuming volume is actually 33.000 units. Indicate whether the variances are favorable (F) or unfavorable (U) (Select "None" if there is no effect (ie.. zero variance).) Volume Variances Master Budget 32.000 Flexible Budgets 31,000 33.000 Number of units Variable manufacturing costs Fixed costs Prev 1 of 3 !!! Next >