11:28 PM Sat Dec 9 AA M Question 2 - Ch.15 Homework - Connect Ch.15 Homework i 2 81% ezto.mheducation.com Campbell Company's income statement information fo..... Saved Help Save & Exit Submit Fanning Company has provided the following for the year. 4.4 Budget points Sales $513,000 Variable product costs Variable selling expense Other variable expenses 190,000 47,000 3,100 eBook Fixed product costs Fixed selling expense Other fixed expenses Interest expense 15,800 23,700 1,900 630 Variances Hint Sales 8,000 U Variable product costs 4,000 F Variable selling expense 1,500 U Print Other variable expenses 1,200 U Fixed product costs 280 F References Fixed selling expense Other fixed expenses Interest expense 440 F 180 U 140 F Mc Graw Hill 86 Check my work Required a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) Sales FANNING COMPANY Internal Income Statement Budget Actual Variance Effect 513,000 $ 8,000 U Variable expenses: Product costs 190,000 Selling expenses 47,000 Other expenses 3,100 Contribution margin 272,900 0 < Prev 2 of 5 Next > 4,000 F 1,500 U 1,200 U U 11:28 PM Sat Dec 9 AA 81% ezto.mheducation.com Campbell Company's income statement information fo..... M Question 2 - Ch.15 Homework - Connect Ch.15 Homework i 2 ulner variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense 4.4 points Required eBook Hint Saved 1,2000 280 F 440 F 180 U 140 F Help Save & Exit Submit 86 Check my work a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).) FANNING COMPANY Internal Income Statement Print Budget Sales $ 513,000 References Variable expenses: Product costs $ 190,000 Selling expenses 47,000 Other expenses 3,100 Actual Variance Effect $ 8,000 U Contribution margin 272,900 0 Fixed expenses: Product costs Selling expenses 4,000 F 1,500 U 1,200 U U U IF IF Other expenses Operating income 272,900 0 U Interest expense Net income $ 272,900 $ 0 U Mc Graw Hill < Prev 2 of 5 Next >