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14 Exercise 19-4 Variable costing income statement LO P2 0 Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1.000 kayaks and sold 750 at a price of $1000 each At this first year-end, the company reported the following income statement information using absorption costing 3 750,000 318 se 431,250 Bor Sales (750 31,000) Cost of goods sold (750-1425) Gross margin Selling and administrative expenses Bet income 11 $ 201,250 Hin Additional Information .. Product cost per kayak totals $425, which consists of 5325 in variable production cost and $100 in fixed production cost--the latter amount is based on $100,000 of fixed action costs allocated to the 1000 Kayaks produced b. The $230,000 in selling and administrative expense consists of $105.000 mat variable and $125,000 that is fixed res Required: 1. Prepare an income statement for the current year under variable costing 2. Fill in the blanks Complete this question by entering your answers in the tabs below. PUUTTUVIE 14 a. Product cost per kayak totals $425, which consists of $325 In variable production cost and $100 in foxed production cost--the latter amount is based on $100,000 of fixed production costs allocated to the 1,000 kayaks produced b. The $230,000 in selling and administrative expense consists of S105,000 that is variable and $125,000 that is fixed 1 Dons Required: 1. Prepare an income statement for the current year under variable costing 2. Fill in the blanks ebook Complete this question by entering your answers in the tabs below. Required 1 Required 2 Dvopare an income statement for the current year under variable conting Berences 750.000 KENZI KAYAKING Variable Costing Income Statement Sales Variable costs Variable product costs Variable sing and administrative expenses Total variable costs Contribution margin Loss Feed capetes Fixed overhead costs Flead sing and administrative cool Neticos

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