Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Rundle Company has provided the following for the year Budget Variable product costs Variable selling expense Other variable expenses Fland product rests ised selling expense Other Fixed expenses Interest expense Variances Sales Variable product cests Other variable expenses Variable selling expense Fixed products Fixed selling expense Other fixed expenses Interest expense Required $105,000 201,000 44,000 3,200 16,200 24,300 1,400 750 7.900 U 4,000 2,300 U 1,900 0 250 F 420F 100 U 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 (.e., zero variance).) Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Rundle Company has provided the following for the year. Budget Sales Variable product costs Variable selling expense. Other variable expenses Fixed product costs. Fixed selling expense $505,000 201,000 44,000 3,200 16,200 24,300 Other fixed expenses 1,400 Interest expense 750 Variances Sales 7,900 U Variable product costs: 4,000 F Variable selling expense 2,300 U other variable expenses 1,900 U Fixed product costs. 250 F 420 F 180 U 130 F Fixed selling expense Other fixed expenses Interest expense 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).)