Exercise 150 (Part Level Submission) On-Road Wheels, Inc. manufactures a basic road bicycle. Production and sales data for the most recent year are as follows (no beginning inventory): Variable production costs Fixed production costs Variable selling and administrative costs Fixed selling and administrative costs Selling price Production Sales $95 per bike $400,000 $22 per bike $550,000 $200 per bike 20,000 bikes 16,000 bikes (a) Prepare a brief income statement using variable costing. ON-ROAD WHEELS, INC. Income Statement (Variable Costing) Sales 3,200,000 Variable Costs Fixed Production Costs Variable Selling and Administrative Costs Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Dy accessing this uestion mecictance vo will learn while yollarnainte based on the Doint Dotential Dolievcet by your instructor