Exercise 19-6 Absorption costing income statement LO P2 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, 350 bikes were produced and 225 were sold; this left 125 bikes in ending inventory. The income statement Information under variable costing follows. Sales (22501,775) variable product cost (225 * $675) Variable selling and administrative expenses (225 - $651 Contribution margin Fixed overhead coat Fixed soiling and administrative expense Not Income $399,375 151, 95 11.525 232.75 66.500 90.000 76.375 1. Prepare this company's income statement for its first month of operations under absorption costing 2. Fill in the blanks Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the current year under absorption costing. KENZI KAYAKING Absorption Costing Income Statement Net income (ons) Fixed costs added to inventory Required 1 Required 2 Pill in the blanks The dollar difference in variable costing income and absorption costing income units foxed overhead per unit