QS 19-11 Converting varlable costing Income to absorptlon costing LO P3 Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 51,000 units, but its production was 81,000 units. It had no beginning finished goods inventory for the current period. Diaz COMPANY Income Statement (Variable Costing) Sales (51,eee units x $61.00 per unit) Variable expenses Variable manufacturing expense (51,eee units x $28.1e per unit) Variable selling and admin. expense (51,e08 units $5.18 per unit) Total variable expenses Contribution margin $3,111,000 1,433,180 260,1ee 1,693,280 1,417,800 Fixed expenses Fixed overhead Fixed selling and administrative expense Total fixed expenses 332,100 166,050 498,150 919,65e Net income 1. Convert Diaz's variable costing income statement to an absorption costing income statement. DIAZ COMPANY Absorption Costing Income Statement Selling general and administrative expenses Net income (lpss)