Diaz Company reports the following variable costing income statement for its single product.. This company's sales totaled 40,000 units, but its production was 70,000 units. It had no beginning finished goods inventory for the current period. Diaz COMPANY Income Statement (Variable Costing) Sales (40,e00 units x $50.00 per unit) Variable expenses Variable manufacturing expense (40,eee units x $27.00 per unit) Variable selling and admin. expense (40,000 units x $4.00 per unit) Total variable expenses Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expense Total fixed expenses $2,e00,eee 1,e8e, e0 160,000 1,240,000 76e, eee es 210,000 105.000 315,eee Net income $ 445,eee 1. Convert Diaz's variable costing income statement to an absorption costing income statement. DIAZ COMPANY Absorption Costing Income Statement Sales d to search lenovo 1. Convert Diaz's variable costing income statement to an absorption costing income statement DIAZ COMPANY Absorption Costing Income Statement Selling general and administrative expenses Net income (loss) 8 of 11 Next> Prev search