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tenzi, a manufacturer of kayaks, began operations this year. During this year, the company produced 1,075 kayaks and sold 825 at a rice of $1,075 each. At year-end, the company reported the following income statement information using absorption costing. Idditional Information . Product cost per kayak under absorption costing totals $450, which consists of $350 in direct materials, direct labor, and variable perhead costs and $100 in fixed overhead cost. Fixed overhead of $100 per unit is based on $107,500 of fixed overhead per year fivided by 1,075 kayaks produced. . The $220,000 in selling and administrative expenses consists of $95,000 that is varable and $125,000 that is fixed: Prepare an income statement for the current year under variable costing. tenzi, a manufacturer of kayaks, began operations this year. During this year, the company produced 1,075 kayaks and sold 825 at a rice of $1,075 each. At year-end, the company reported the following income statement information using absorption costing. Idditional Information . Product cost per kayak under absorption costing totals $450, which consists of $350 in direct materials, direct labor, and variable perhead costs and $100 in fixed overhead cost. Fixed overhead of $100 per unit is based on $107,500 of fixed overhead per year fivided by 1,075 kayaks produced. . The $220,000 in selling and administrative expenses consists of $95,000 that is varable and $125,000 that is fixed: Prepare an income statement for the current year under variable costing