Prepare an income statement for the month of June using absorption costing.

The ABC Co. produces and sells bicycles and uses standard costing. Here is the actual data for the second quarter of 2020: April May June Units sold 9,800 18,500 35,100 Units produced 21,400 16,600 25,700 Direct labor hours per unit produced 3 3 3 Fixed manufacturing overhead costs $452,000 $452,000 $452,000 Fixed selling and administrative costs $238,000 $238,000 $238,000 Direct materials cost per unit produced $64 $64 $64 Direct labor cost per hour $16 $16 $16 Variable manufacturing overhead per unit produced $8 $8 $8 Variable selling expense per unit sold $10 $10 $10 The company had 7,600 units in inventory at the beginning of the second quarter. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 25,000 units in each month of the quarter. Each bicycle is sold for $220 per unit. The company has no price, efficiency, or spending variances, and any production-volume variances are written off to cost of goods sold (COGS) in the month they occur