Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

Variable Costs per Unit

Direct materials $7.50

Direct labor $3.45

Variable manufacturing overhead $5.80

Variable selling and administrative expenses $3.90

Fixed Costs per Year

Fixed manufacturing overhead $225,000

Fixed selling and administrative expenses $210,100

Siren Company sells the fishing lures for $25. During 2017, the company sold 80,000 lures and produced 90,000 lures.

Prepare a variable costing income statement for 2017