Kenzi, a manufacturer of kayaks, began operations this year, Durting this year, the compary produced 1,00 kayaks and sold 850 at a price of \$1,00 each. At year-end, the company reported the following income statement information using absorption costing. Additional Information a. Product cost per kayak under absorption costing totals \$475, which consists of \$375 in direct matertals, direct labor, and varrabie overhead costs and $100 in fived overhead cost. Fixed overhead of $100 per unit is based on $110,000 of fived overhead per year divided by 1,100 kayaks produced. b. The $230,000 in seling and administrative expenses consists of $85,000 that is varrable and $145,000 that is fixed. Prepare an income statement for the current year under vartable costing