Question: 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.

Hayek Bikes prepares the income statement under variable costing for its

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. Prepare the company's income statement under absorption costing

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