Gibson Company has provided the following Year 2 data. Budget $514,000 200,000 41,000 Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses 3,200 15,800 23,500 1,400 Interest expense 760 Variances Sales 7,900 U Variable product costs Variable selling expense 4,300 F 2,200 U 2,000 U Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses 250 F 440 F 150 U Interest expense 120 F Required a. & b. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements. GIBSON COMPANY Internal Income Statement for Year 2 Budget Actual Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss)