Munoz Company has provided the following Year 2 data.

Budget
Sales	$ 502,000
Variable product costs	190,000
Variable selling expense	41,000
Other variable expenses	3,400
Fixed product costs	16,400
Fixed selling expense	24,100
Other fixed expenses	1,900
Interest expense	710
Variances
Sales	7,600	Unfavorable
Variable product costs	4,400	Favorable
Variable selling expense	2,100	Unfavorable
Other variable expenses	1,000	Unfavorable
Fixed product costs	230	Favorable
Fixed selling expense	480	Favorable
Other fixed expenses	160	Unfavorable
Interest expense	150	Favorable

Required

Prepare a budgeted and actual income statement for internal use.

\begin{tabular}{|l|l|} \hline \multicolumn{3}{|c|}{ MUNOZ COMPANY } \\ \hline \multicolumn{2}{|c|}{ Internal Income Statement for Year 2} \\ \hline Sales & \\ \hline Variable expenses: & \\ \hline Product costs & \\ \hline Selling expenses & \\ \hline Other expenses & \\ \hline Contribution margin & \\ \hline Fixed expenses: & \\ \hline Product costs & \\ \hline Selling expenses & \\ \hline Other expenses & \\ \hline Operating income (loss) & \\ \hline Interest expense & \\ \hline Net income (loss) & \\ \hline \end{tabular}