Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Rundle Company has provided the...
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Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Rundle Company has provided the following for the year 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 $507,000 195,000 46,080 3,000 16,500 23,700 1.400 740 3,300 U 4,100 F 1,700 U 1,400 U 310 F 490 F 100 U 130 Required . Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements and indicate whether each variance is favorable (n) or unfavorable (U) (Select "None" if there is no effect (l.e., zero variance).) RUNDLE COMPANY Internal income Statement Budget Actual 507.000 Variance Effect $ Sales Variable expenses Product costs Selling expenses Other expenses 507000 Fixed expenses
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