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, 375 bikes were produced and 225 were sold this left 150 bikes in ending inventory. The income statement Information under variable costing folios stes 22 31,400) Vartable product coat (2255615) Variable selling and administrative expenses 1325 565) Contributo margin se overhead cont ved selling Anistrative express $360,000 140.625 14.625 206,150 16.250 35.000 $13.500 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 tabu below. Required 1 Required Fol in the bank med over The force invariable costing income and absorption conting income