Why is this wrong?

Kenzi, a manufacturer of kayaks, began operations this year. During this year, the company produced 1,050 kayaks and sold 800 at a price of $1,050 each. At year-end, the company reported the following income statement information using absorption costing. Sales (300 x $1,050} 5 390,000 Cost of goods sold (800 K $500} 00,000 Gross profit 4&0,000 Selling and administrative expenses 250,000 Income 5 190,000 Additional Information a- Product cost per kayak under absorption costing totals $500, which consists of $400 in direct materials, direct labor, and variable overhead costs and $100 in xed overhead cost. Fixed overhead of $100 per unit is based on $105,000 of xed overhead per year divided by 1,050 kayaks produced. b. The $250,000 in selling and administrative expenses consists of $105,000 that is variable and $145,000 that is xed. Prepare an income statement for the current year under variable costing. Additional Information a. Product cost per kayak under absorption costing totals $500, which consists of $400 in direct materials, direct tabor, and variable overhead costs and $100 in xed overhead cost. Fixed overhead of $100 per unit is based on $105,000 of xed overhead per year divided by 1,050 kayaks produced. b. The $250,000 in selling and administrative expenses consists of $105,000 that is variable and $145,000 that is xed. Prepare an income statement for the current year under variable costing. 9 Answer is not complete. Sales Less: Variable expenses Variable cost of goods sold Variable selling and administrative expenses Variable cost of goods sold Contribution margin 320.0000 00,0000 320,000 0 720,000 Less: Fixed expenses Variable overhead costs Fixed selling and administrative expenses Fixed overh ead $ 215,000 a