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Rundle 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 RUNDLE COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs $ 505,000 189,000 42,000 Required Prepare a budgeted and actual income statement for internal use. Selling expenses Other expenses Contribution margin Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 2,800 16,400 23,800 1,200 740 7,900 Unfavorable 4,100 Favorable 2,400 Unfavorable 1,200 Unfavorable 220 Favorable 420 Favorable 170 Unfavorable 150 Favorable Actual

Rundle 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 RUNDLE COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs $ 505,000 189,000 42,000 Required Prepare a budgeted and actual income statement for internal use. Selling expenses Other expenses Contribution margin Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 2,800 16,400 23,800 1,200 740 7,900 Unfavorable 4,100 Favorable 2,400 Unfavorable 1,200 Unfavorable 220 Favorable 420 Favorable 170 Unfavorable 150 Favorable Actual

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Rundle 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 Required Prepare a budgeted and actual income statement for internal use. RUNDLE COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin $ 505,000 189,000 42,000 2,800 16,400 23,800 1,200 740 Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 7,900 Unfavorable 4,100 Favorable 2,400 Unfavorable 1,200 Unfavorable 220 Favorable 420 Favorable 170 Unfavorable 150 Favorable Actual
Transcribed Image Text:Rundle 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 Required Prepare a budgeted and actual income statement for internal use. RUNDLE COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin $ 505,000 189,000 42,000 2,800 16,400 23,800 1,200 740 Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 7,900 Unfavorable 4,100 Favorable 2,400 Unfavorable 1,200 Unfavorable 220 Favorable 420 Favorable 170 Unfavorable 150 Favorable Actual
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