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worcu Help Save & Exit Submit 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 , 350 bikes were produced and 225 were sold; this left 125 bikes in ending inventory. The income statement information under variable costing follows. 40:43 X $ 405,000 140,625 11,250 253,125 63,000 85,000 $ 105,125 Sales (225 * $1,800) Variable product cost (225 * $625) Variable selling and administrative expenses (225 * $50) Contribution margin Fixed overhead cost Fixed selling and administrative expense Net income ed 1. Prepare this company's income statement for its first month of operations under absorption costing. 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 2 Required 1 . Prepare an income statement for the current year under absorption costing Next > 5 of 10 Prev Sound 1. Prepare this company's income statement for ls first month of operations under absorption costing 2. Fill in the blanks: Required 1 Required 2 Prepare an income statement for the current year under absorption costing. 10:09 KENZI KAYAKING Absorption Costing Income Statement Net income (loss) (Pwy o Me 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, 350 bikes were produced and 225 were said, this let 125 bikes in ending inventory. The income statement information under variable costing follows. 2:58 Sales (225 * $1,800) Variable product cost (225 * $625) Variable selling and administrative expenses (225 $50) Contribution margin Fixed overhead cost Fixed selling and administrative expense Net income $ 405,000 140,625 11,250 253, 125 63,000 85,000 $ 105, 125 1. Prepare this company's income statement for its first month of operations under absorption costing 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 2 Required 1 fundo Fill in the blanks: unity Required 2 > The dollar difference in variable costing income and absorption costing income