Harris Company has provided the following 2008 data. Required a. Prepare in good form a budgeted and
Question:
Harris Company has provided the following 2008 data.
Required
a. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements.
b. Calculate variances and identify these as favorable (F) or unfavorable(U).
Transcribed Image Text:
Budget Sales Variable product costs Variable selling expenses Other variable expenses Fixed product costs Fixed selling expenses Other fixed expenses Interest expense $400,000 155,000 45,000 3,600 16,600 24,300 Variances Sales Variable product costs Variable selling expenses Other variable expenses Fixed product costs Fixed selling expenses Other fixed expenses Interest expense 8,600 U 4,000 F 2,500 U 1,200 U 220 F 390 F 150 U 80 F
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