Exercise $19-8($Algo$)$ Variable costing income statement LO P$2$

$5$

points

Kenzi, a manufacturer of kayaks, began operations this year. During this year, the company produced $1,000$ kayaks and sold $750$ at a price of $$1,000$ each. At year$-$end, the company reported the following income statement information using absorption costing.

Sales $(750$$$1,000)$

Cost of goods sold $(750$$$450)$

Gross profit

Selling and administrative expenses

Income

$\backslash$table$[[$$$750,000$