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principles of managerial accounting ces Vernon Company has provided the following Year 2 data. Budget Sales Variable product costs Variable selling expense $504,000 192,000 44,000
principles of managerial accounting
ces Vernon Company has provided the following Year 2 data. Budget Sales Variable product costs Variable selling expense $504,000 192,000 44,000 3,300 15,600 other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances 23,300 2,200 750 Sales 8,500 U 4,700 F 1,600 U 2,000 U Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense 250 P 400 170 U 140 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. VERNON COMPANY Internal Income Statement for Year 2 Budget Actual Sales Variable expenses: Product costs ces 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. VERNON COMPANY Internal Income Statement for Year 2 Budget Actual 70 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) Step by Step Solution
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