Zachary Company has provided the following Year 2 data. Budget Sales Variable product costs Variable selling...

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Zachary 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 $515,000 195, 000 49,000 2,900 16,400 23,900 1,800 Interest expense 790 Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses 8,100 U 5,000 F 2,400 U 1,400 U 240 F 460 F 110 U Interest expense 100 F Required a. & b. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements. ZACHARY COMPANY Internal Income Statement for Year 2 Budget Actual Sales 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) Zachary 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 $515,000 195, 000 49,000 2,900 16,400 23,900 1,800 Interest expense 790 Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses 8,100 U 5,000 F 2,400 U 1,400 U 240 F 460 F 110 U Interest expense 100 F Required a. & b. Prepare in good form a budgeted and actual income statement for internal use. Separate operating income from net income in the statements. ZACHARY COMPANY Internal Income Statement for Year 2 Budget Actual Sales 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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Income Statement is shows as below Zachary Company Int... View the full answer