A$)$ Variable Costing Income Statements: The sales and cost figures for the month of August

$2023$ are as follows. Variable and fixed costs are all manufacturing costs. Selling,

administrative, marketing, and other costs are ignored since they stay constant over the

year.

Budget

Actual

CFC uses the variable costing approach for its sales and cost analysis. As part of the report,

you are required to prepare a variable cost operating statement by product and in total for

CFC with variances between budget and actual.