Problem 15-21A (Algo) Determining and interpreting flexible budget variances LO 15-5 Munoz Publications established the following standard price and costs for a hardcover picture book that the company produces. Materials cost Standard price and variable costs Sales price Labor cost Overhead cost Selling, general, and administrative costs Planned fixed costs Manufacturing overhead Selling, general, and administrative $ 36.90 8.70 3.90 5.90 6.90 $130,000 47,000 Assume that Munoz actually produced and sold 31,000 books. The actual sales price and costs incurred follow: Actual price and variable costs Sales price Materials cost Labor cost Overhead cost Selling, general, and administrative costs Manufacturing overhead Actual fixed costs Selling, general, and administrative Required 35.90 8.90 3.80 5.95 6.70 $115,000 53,000