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Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Benson Company has provided the following for the year. Budget Sales $514,000 Variable product
Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Benson Company has provided the following for the year. Budget Sales $514,000 Variable product costs 192,000 Variable selling expense. 44,000 Other variable expenses 2,800 Fixed product costs 15,700 Fixed selling expense Other fixed expenses Interest expense Variances 24,000 1,300 790 Sales 8,000 U Variable product costs. 4,000 F Variable selling expense 1,900 U Other variable expenses 1,900 U Fixed product costs 220 P 490 F 110 U 100 P nces 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).)
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