Geis Company has provided the following 2005 data.

Required

Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements.

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Budget Sales $408,000 Variable product costs 164,000 Variable selling expense 48,000 Other variable expenses 4,000 Fixed product costs 16,800 Fixed selling expense 25,200 Other fixed expenses 2,400 Interest expense 900 Variances Sales 8,800 U Variable product costs 4,000 F Variable selling expense 2,400 U Other variable expenses 1,200 U Fixed product costs 240 F Fixed selling expense Other fixed expenses Interest expense 400 F 160 U 100 F