Dion Company reports the absorption costing Income statement below for May. The company began the month with no finished goods Inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods Inventory for May. Fixed overhead was $50,000. Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income $360, eee 300, eee 60, see 40.ee $ 20,eee Prepare an Income statement using variable costing. DION COMPANY Income Statement (Variable Costing) S $ 360.000 Sales Less: Variable expenses Variable cost of goods sold Variable selling and administrative expenses 30,000 30,000 0