Diaz Company reports the following variable costing Income statement for its single product. This company's sales totaled 60,000 units, but its production was 90,000 units. It had no beginning finished goods inventory for the current period. $4,200,000 DIAZ COMPANY Income Statement (Variable Costing) Sales (60,000 units * $70.00 per unit) Variable expenses Variable manufacturing expense (60,000 units * $29.00 per unit) Variable selling and admin. expense (60,000 units x $6.00 per unit) Total variable expenses Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expense Total fixed expenses Net income 1,740,000 360,000 2,100,000 2,100,000 450,000 225.000 675.000 $1, 425,000 1. Convert Diaz's variable costing income statement to an absorption costing income statement. 2. Fill in the blanks: Complete this question by entering your answers in the tabs below