answer both questions

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. 375 bikes were produced and 225 were sold; this left 150 bikes in ending Inventory. The income statement Information under variable costing follows. Sales (225 $1,700) Variable product cost (2255625) Variable selling and administrative expenses (225 - $70) Contribution sargin Fixed overhead cost Fixed selling and sinistrative expense Net Income 5 382,500 140,625 15.750 226,125 61.750 $ 82,375 1. Prepare this company's income statement for its 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. KENZI KAYAKING Absorption Costing Income Statement Net income (oss Fixed costs added to inventory Required 2 > D ork Saved Sales (225 * $1,700) Variable product cost (2255625) Variable selling and administrative expenses (225 $70) Contribution margin Fixed overhead cost Fixed selling and administrative expense Net Income $ 382,500 140,625 15,750 226, 125 63,750 80,000 $ 82,375 Book 1. Prepare this company's Income statement for its first month of operations under absorption costing 2. Fill in the blanks Print Ferences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Fill in the blanks The dollar difference in variable costing income and absorption conting income Exed overhead per unit (Required 1