Exercise 15-6 Income statement for internal use LO 15-3 Munoz Company has provided the following 2018 data: $501,000 193,000 42,000 3,609 16,200 23,500 1,700 790 Budget Sales 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 selling expense Other fixed expenses Interest expense 8,400 U 4,800 F 1,700 U 1,600 U 250 F 400 F 140 U 140 F 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 (i.e., zero variance).) DUNLOP COMPANY Internal Income Statement for 2018 Budget Actual Variance Effect Sales Variable expenses: Fixed expenses