Ty overheart cable / Absorption Costing amir overhea Alier our first year at Peloton, COVID hits, and all of our prior cost assumptions are tossed to the side. We recalculate all of the costs and have the following: Direct Materials $750 / bike Direct Labor $500 / bike Variable Overhead $150 / bike Fixed Overhead $600,000 for the year Variable S,G&A $1,300,000 =100 Fixed S,G &A $2,000,000 Units Produced 6,000 bikes Units Sold 4,000 bikes 6000 GODO 2.4 Pointol IT 11: (10 Points). Use the information above. We sell each bike for $2.500. Prepare an income statement according to the absorption costing concept . Note: Take the Variable SG&A expenses in total, just like we did in the class problems! 12: (10 Points). Use the information above. We sell each bike for $2,500. Prepare an income statement according to the variable costing concept. Note: Take the Variable S,G&A expenses in total, just like we did in the class problems