Benson 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 BENSON COMPANY Internal Income Statement for Year 2 Budget Required Prepare a budgeted and actual Income statement for Internal use. Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin $ 504,000 186,000 46,000 3,300 16,500 23,400 1,900 700 Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 8,600 Unfavorable 4,200 Favorable 2,300 Unfavorable 1,700 Unfavorable 310 Favorable 490 Favorable 190 Unfavorable 90 Favorable Actual

Subject : Accounting

Complete each of the following contribution format income statements by supplying the missing numbers.     a.   b.   c.   d. Sales revenue   $enter the sales revenue amount in dollars    $504,696   $enter the sales revenue amount in dollars    $671,472 Variable expenses   236,284   enter the variable expenses amount in dollars   123,704   enter the variable expenses amount in dollars Contribution margin   150,052   156,624   enter the contribution margin in dollars   490,336 Fixed expenses   enter the fixed expenses amount in dollars   87,320   138,084   enter the fixed expenses amount in dollars Operating income   20,502   enter the operating income amount in dollars   enter the operating income amount in dollars   enter the operating income amount in dollars Income taxes   enter the income tax amount in dollars   20,791   20,278   63,805 Net income   $14,351   $enter the net income amount in dollars    $60,834   $191,415

by its June contribution format income statement below: Sales (4,000 pools) Variable expenses: Variable cost of goods sold* Variable selling expenses Total variable expenses Contribution margin Fixed expenses: Manufacturing overhead Selling and administrative Total fixed expenses Net operating income (loss) Flexible Budget $ 275,000 Actual $ 275,000 74,720 90,040 27,000 27,000 101,720 117,040 173,280 157,960 68,000 68,000 93,000 93,000 161,000 161,000 $ 12,280 $ (3,040) *Contains direct materials, direct labor, and variable manufacturing overhead. Janet Dunn, who has just been appointed general manager of the Westwood Plant, has been given instructions to "get things under control." Upon reviewing the plant's income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard…