Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Jordan Publications established the following standard price and costs for a hardcover picture book that the company produces 21 Standard price and varable costs Sale price Materials cost Labor cost Overhead wat Selling oral and administrative costs Planned Fixed cost Manufactoring overbead Selling also administrative 36.50 8.40 4.50 S.NO 6.30 $133.000 52,000 Assume that Jordan actually produced and sold 23,000 books, The actual sales price and costs incurred follow 3530 Actual price and variable costs Sales pece Mater Labor cost Overhead cost sing where and administrative costs Actual fixed costs Manufacturing Overhead Selling aral and strative 6.40 5. 610 1118.000 53,000 Required 6. & b. Determine the flexible budget Valances and to indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" If there is no effect (ie, zero varionce).) Flexible Budget Variances Sales revenue Variable manufacturing costs Materials Labor Overhead Variable selling, general, and administrative costs Contribution margin Fixed costs Manufacturing overhead Selling, general and administrative costs Net income