Exercise 15-6A (Algo) Income statement for internal use LO 15-3 Gibson Company has provided the following for the year. Budget Sales Variable product conta Variable selling expense Other variable expenses Fixed product costs Led selling expense Other fixed expenses Interest expense Var Sales Variable product costs Variable selling expense other variable expense Fixed product costs Fixed an expense other td expenses 5516,000 190.000 41,000 3.300 15,600 24.100 1,200 650 7.900 6,500 2.400 1,1000 250 400 F 3200 120 Required 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).) GIBSON COMPANY Internal Income Statement Budget Actuni Varianco Effect Sales Variable expenses Pred expenses 0 $ 05