Campbell Company has provided the following for the year.
Budget Sales $ 511,000 Variable product costs 184,000 Variable selling expense 46,000 Other variable expenses 3,100 Fixed product costs 15,900 Fixed selling expense 23,700 Other fixed expenses 1,700 Interest expense 650 Variances Sales 8,500 (U) Variable product costs 4,200 (F) Variable selling expense 2,100 (U) Other variable expenses 1,900 (U) Fixed product costs 230 (F) Fixed selling expense 480 F Other fixed expenses 100 (U)Interest expense 100 (F)
a. 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 (F) or unfavorable (U). (Select "None" if there is no effect (i.e., zero variance).)