Exercise $9-4$A $($Algo$)$ Income statement for internal use LO $9-1$

Campbell Company has provided the following Year $2$ data.

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

$507,000$

$192,000$

$47,000$

$2,800$

$16,200$

$23,800$

$1,700$

$690$

$7,600$ Unfavorable

$4,800$ Favorable

$1,700$ Unfavorable

$1,300$ Unfavorable

$290$ Favorable

$480$ Favorable

$120$ Unfavorable

$150$ Favorable

Required

Prepare a budgeted and actual income statement for internal use.

$\backslash$table$[[$CAMPBELL COMPANY$],[$Internal Income Statement for Year $2,],[$Sales$,$Budget,Actual$],[$Variable expenses:,,$],[$Product costs,,$],[$Selling expenses,,$],[$Other expenses,,$],[$Contribution margin,,$],[$Fixed expenses:,,$],[$Product costs,,$],[$Selling expenses,,$],[$Other expenses,,$],[$Operating income $($loss$),,],[$Interest expense,,$],[$Net income $($loss$),,]]$

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