The LC-40 pilot reported on biennial flight review while performing a simulated loss of engine power landing with power reduced to idle; the aircraft became unstable on short final and developed an excessive sink rate and experienced a hard landing; damaging the main landing gear and skidded to a stop. Both pilots evacuated the aircraft and were uninjured.

Narrative

The flight was undertaken as the practical portion of a biennial flight review. The aircraft was configured on the downwind leg of ZZZ Runway XX at traffic pattern altitude for a simulated landing with loss of engine power. Abeam the approach end of the runway power was reduced to idle. The aircraft was at its best glide speed of 95 kts. In the turn from base to short final at 300 ft. speed was noted to be 85 kts. The aircraft was tracking runway heading on the center line wings level when the main landing gear contacted the runway. The aircraft skidded to a stop ~30 degrees to the right of runway heading 15-20 ft. to the left of center line. Neither occupant was injured. Significant damage appears to be limited to the main landing gear legs.Problems 1. The airplane was low and slow; 'behind the power curve'; at a high rate of descent. 2. I; the pilot; was committed to completing the assigned exercise and thinking the instructor would likely advise against continuing a poor approach.Solutions1. I realized the situation and should have added power to arrest the descent and/or go around to reset for a landing with a stabilized approach perhaps as early as the turn to the base leg. 2. As pilot in command (PIC) I have the entire responsibility for discontinuing any maneuver that appears out of envelope and should have abandoned the exercise without waiting on any other information or advice.