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 conta Tixed selling expense other find expenses Interest expense Variances 3516,000 190.000 41,000 3.300 16.600 24,100 1,200 650 Variable product costs Variable selling expense Other variable expenses Pixed product costa Fixed selling expense Other fixed expenses Interest expense 7.900 9.500 2.400 U 1.100 V 250 480 1200 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 (... zero variance) 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 (1.e., zero variance).) GIBSON COMPANY Internal Income Statement Budget Actual Variance Effect Sales Variable expenses 0 Fixed expenses 0 $ 05