QS 6-19 (Algo) Prepare absorption costing income statement LO P2 Diaz Company reports the following variable costing income statement for its only product. Sales total 53,000 units, but production was 83,000 units. Diaz had no beginning finished goods inventory. Sales (53,000 units $63.00 per unit) Variable expenses DIAZ COMPANY Income Statement (Variable Costing) Variable cost of goods sold (53,000 units $28.30 per unit) Variable selling and administrative expenses (53,000 units $5.30 per unit) Contribution margin Fixed expenses Fixed overhead Fixed selling and administrative expense Income Prepare an absorption costing income statement. DIAZ COMPANY Income Statement (Absorption Costing) $3,339,000 $1,499,900 280,900 1,780,800 1,558,200 356,900 178,450 535,350 $ 1,022,850