Hayek Bikes prepares the income statement under variable costing for its managerial reports, and it prepares the income statement under absorption costing for external reporting. For its first month of operations, 400 bikes were produced and 240 were sold. Income statement information under variable costing follows Sales (240 $1,775) Variable cost of goods sold (240 5600) Variable selling and administrative expenses (240 165) Contribution margin Fixed overhead Fixed selling and administrative expenses Incone Prepare the company's income statement under absorption costing. $ 426,000 144,000 15,000 266,400 60,000 75,000 $123,400 HAYEK BIKES Income Statement (Absorption Costing) 0 $ 0 Required information [The following information applies to the questions displayed below.) Trio Company reports the following information for its first year of operations. Direct materials Direct labor Variable overhead Fixed overhead Units produced Units sold Ending finished goods inventory Assume instead that Trio Company uses variable costing. 1. Compute the product cost per unit using variable costing. $14 per unit $ 18 per unit $8 per unit $ 250, 500 per year 25,050 units 19,000 units 6,050 units 2. Determine the cost of ending finished goods inventory using variable costing. 3. Determine the cost of goods sold using variable costing. Complete this question by entering your answers in the tabs below. Units sold Ending finished goods inventory 19,000 units 6,050 units Assume Instead that Trio Company uses variable costing. 1. Compute the product cost per unit using variable costing. 2. Determine the cost of ending finished goods inventory using variable costing. 3. Determine the cost of goods sold using variable costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the cost of ending finished goods inventory using variable costing. Cost per unit of finished goods using: Total product cost per unit Number of units in finished goods Cost of ending finished goods inventory Variable costing < Required 1 Required 3> Assume instead that Trio Company uses variable costing 1. Compute the product cost per unit using variable costing. 2. Determine the cost of ending finished goods inventory using variable costing. 3. Determine the cost of goods sold using variable costing. Complete this question by entering your answers in the tabs below. Required I Required 2 Required Determine the cost of goods sold using variable costing. Cost per unit of goods sold using: Total product cost per unit Number of units sold Cost of sold goods Variable costing