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 overbead Selling, general, and administrative $36.30 8.90 4.40 6.20 6.30 $128.000 49,000 Jordan planned to make and sell 33,000 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 32,000 and 34,000 units. Determine the sales and variable cost volume variances, assuming volume is actually 34,000 units. Indicate whether the variances are favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e. zero variance).) Master Budget 33,000 Number of units Flexible Budgets 32,000 34,000 Volume Variances Variable manufacturing costs Fixed costs