SES Sad Help Save & Ent Submit 5 Check my werk 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 4 co Sales (225 * $1,800) $405,000 Variable product cost (225 $600) 135, GOD Variable selling and administrative expenses 12,375 (225 x 555) Contribution margin 257, 625 Fixed overhead cost 56,000 Fixed selling and administrative expense 90,000 Net Income 5111, 625 1. Prepare this company's income statement for its first month of operations under absorption costing. 2. Fill in the blanks le 5 10 15 Next > 5 Check my work 1. Prepare this company's income statement for its first month of operations under absorption costing. 2. Fill in the blanks: 4 Doints Complete this question by entering your answers in the tabs below. Bool Required 1 Required 2 Hint Prepare an income statement for the current year under absorption costing References KENZI KAYAKING Absorption Costing Income Statement Check my work 5 Required 1 Required 2 Prepare an income statement for the current year under absorption costing 4 KENDI KAYAKING Abreption Costing Income Statement Check my w 5 4 points oBook Net Income (los) Reference Required 2 > Mc (Mc Chapter 19 Graded Exercises Saved Help Save & Exit Submit Check my work 5 Complete this question by entering your answers in the tabs below. 4 Required 1 Required 2 Book F in the blanks Hint The tour ofference in variable costing income and absorption costing Income uni Red overhead per unit