Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1.050 kayaks and sold 800. at a price of S 1.050 each. At this first year-end. the company reported the following income statement information using absorption costing. Additional Information a. Production cost per kayak totals $500, which consists of $400 in variable production cost and $100 in fixed production cost-the latter amount is based on S 105,000 of fixed production costs allocated to the 1.050 kayaks produced. b. The $240,000 in selling and administrative expense consists of $105,000 that is variable and $135,000 that is fixed. Required Prepare an income statement for the current year under variable costing