Exercise 19-8 (Algo) Variable costing income statement LO P2 Kenzi, a manufacturer of kayaks, began operations this year. During this yeat, the company produced 1,075 kayaks and sold 825 at a price of $1,075 each. At year-end, the company reported the following income statement information using absorption costing Additional information a. Product cost per kayak under absorption costing totals $425, which consists of $325 in direct materiais, direct labor, and variable. ovethead costs and $100 in fixed overhead cost. Fixed overhead of $100 per unit is based on $107,500 of fixed ovetheod per year divided by 1,075 kayaks produced b. The $250,000 in selling and administrotive expenses consists of $105,000 that is variable and $145,000 that is fixed Prepore an income statement for the curtent year under variable costing