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make sure you fill in all the blanks on the imcome statement please Bharat Bicycle, located in India, produces an inexpensive yet rugged bicycle for

make sure you fill in all the blanks on the imcome statement please
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Bharat Bicycle, located in India, produces an inexpensive yet rugged bicycle for use on crowded city streets. The company sells the bicycle for 650 rupees. (Indian currency is denominated in rupees, denoted by R.) Selected data for the company's operations last year follow: 0 9,250 7,400 1,850 R R 164 218 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative R 87 R 47 R 360,750 R240,500 R4,810,000 R O Sales (7,400 units * R650 per unit) Cost of goods sold: Beginning inventory Add cost of goods manufactured (9,250 units x R ? per unit) 4,699,000 4,699,000 Goods available for sale Less ending inventory (1,850 units * R ? per unit) 939,800 3,759,200 1,050,800 Gross margin Selling and administrative expenses: Variable selling and administrative Fixed selling and administrative 347,800 240,500 588,300 Operating income R 462,500 1. Determine how much of the ending inventory of R939,800 above consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in ending inventory R 2. Prepare an income statement for the year using the variable costing method. Variable Costing Income Statement R Variable expenses Variable cost of goods sold

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