Walton Company has provided the following 2018 data 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 $516,000 197,000 41.000 3,600 16,000 24,100 2,200 670 8,300 U 4,600 2,000 1,200 250 F 450 F 160 U 100 P Required a. & b. Prepare a budgeted and actual income statement for internal use. Separate operating income from net income in the statements. Calculate variances and identify them as favorable (F) or unfavorable (U) by comparing the budgeted and actual amounts determined. (Select "None" if there is no effectie, zero variance).) WALTON COMPANY Internal Income Statement for 2018 Budget Actual Variance Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin Fixed expenses Product cout Selling expenses Other expenses Operating income (ons) Interest expand Net Income ()