Exercise 15-6A (Static) Income statement for internal use LO 15-3 Dunlop 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 Other fixed expenses Interest expense Variances $ 400,000 163,000 40,000 3,000 10,500 20,000 1,600 650 Sales 3,200 U Variable product costs. 2,600 F Variable selling expense 1,250 U 600 U 110 P 195 P 75 U 50 P Other variable expenses Fixed product costs 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 (l.e., zero variance).) DUNLOP COMPANY Internal Income Statement