In May 2018, RefreshAde produced 16,000 cases of powdered drink mix and sold 18,000 cases, of which 2,000 were produced in April. The total April production was 24,000. The sales price was $27, variable costs were $14 per case ($10 manufacturing and $4 selling and administrative), and total fixed costs were $95,000 ($80,000 manufacturing and $15,000 selling and administrative). RefreshAde's May income statement using variable costing follows: (Click the icon to view the variable costing income statement.) Read the requirements. Requirement 1. Prepare the May income statement using absorption costing. RefreshAde Income Statement (Absorption Costing) Month Ended May 31, 2018 Operating Income