4 Exercise 15-6 Income statement for internal use LO 15-3 Gibson Company has provided the following 2018 data: 2.5 points Budget 2 02:42:04 Sales Skipped 5500,000 199,000 47,600 3,600 16,100 24,200 1,700 680 Book Hint Variable product costs Variable selling expense other variable expenses Fixed product costs Fixed selling expense Other Fixed expenses Interest expense Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed sin pense other fixed expenses Interest expense 2,700D 4.800 Pin 200 470 Required a. & b. Prepare a budgeted and actual income statement for internal use. Separate operating income from net income in the statements. Calculate variances and identify them as favorable for unfavorable (U) by comparing the budgeted and actual amounts determined. (Select "None" if there is no effectie. Eero variance) DUNLOP COMPANY Required a. & b. Prepare a budgeted and actual income statement for internal use. Separate operating income from net income in the statements. Calculate variances and Identify them as favorable (F) or unfavorable (U) by comparing the budgeted and actual amounts determined. (Select "None" if there is no effect (ie, zero variance).) 41:33 DUNLOP COMPANY Internal Income Statement for 2018 Budget Actual ned Variance Effect Sales ook Vanable expenses ent ck rences Foed expenses S