Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Thornton 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 8.80 4.30 5.60 6.60 $128,000 52,000 Assume that Thornton actually produced and sold 34,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Actual fixed costs Manufacturing overhead Selling, general, and administrative costs Selling, general, and administrative $ 35.60 9.00 4.20 5.65 6.40 $113,000 58,000