Huds Incorporated reports the information below on its product. The company uses absorption costing and has a target markup of 40% of absorption cost per unit. Compute the target selling price per unit under absorption costing. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. 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, 425 bikes were produced and 255 were sold. Income statement information under variable costing follows. Prepare the company's income statement under absorption costing