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Finch Company has provided the following for the year. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling

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Finch 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 Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense $509,000 201,000 49,000 2,700 16,200 24,100 1,300 790 8,300 U 4,900 F 2,500 V 1,100 U 260 F 460 F 110 U 80 F 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).) FINCH COMPANY Internal Income Statement Budget Actual Variance Effect Sales Variable expenses 0 Fixed expenses ces 0 0 $ OS 0

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