1 points 04:33:57 Great Outdoze Company manufactures sleeping bags, which sell for $65.70 each. The variable costs of production are as follows: Direct material 9.70 $19.00 Direct labor Variable manufacturing overhead 6.30 eBook Print References Budgeted fixed overhead in 20x1 was $158,700 and budgeted production was 23,000 sleeping bags. The year's actual production was 23,000 units, of which 21,000 were sold. Variable selling and administrative costs were $1.80 per unit sold; fixed selling and administrative costs were $22,000. Required: 1. Calculate the product cost per sleeping bag under (a) absorption costing and (b) variable costing. 2-a. Prepare an operating income statement for the year using absorption costing 2-b. Prepare an operating income statement for the year using variable costing. 3. Reconcile reported operating income under the two methods using the shortcut method. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Req 3 Prepare an operating income statement for the year using absorption costing. (Do not round intermediate calculations.) GREAT OUTDOZE, INC. Onerating Income Statement For the Year Ended December 31 20x1 1. Calculate the product cost per sleeping bag under (a) absorption costing and (b) variable costing. 2-a. Prepare an operating income statement for the year using absorption costing. 2-b. Prepare an operating income statement for the year using variable costing. 3. Reconcile reported operating income under the two methods using the shortcut method. Complete this question by entering your answers in the tabs below. 33:36 Req 1 Req 2A Req 2B Req 3 ok ht ences Prepare an operating income statement for the year using absorption costing. (Do not round intermediate calculations.) GREAT OUTDOZE, INC. Operating Income Statement For the Year Ended December 31, 20x1 Absorption Costing Sales revenue Less: Cost of goods sold Gross margin Selling and Administrative Expenses $ 1,379,700 $ 1,379,700 $ 1,379,700 1. Calculate the product cost per sleeping bag under (a) absorption costing and (b) variable costing. 2-a. Prepare an operating income statement for the year using absorption costing. 2-b. Prepare an operating income statement for the year using variable costing. 3. Reconcile reported operating income under the two methods using the shortcut method. Complete this question by entering your answers in the tabs below. 3:21 Req 1 Req 2A Req 2B Req 3 ces Prepare an operating income statement for the year using variable costing. (Do not round intermediate calculations GREAT OUTDOZE, INC. Operating Income Statement For the Year Ended December 31, 20x1 Variable expenses! Fixed expenses ere to search. Variable Costing I 0 $ 0 < Prev 3 of 4 Next > a K ha Required: 1. Calculate the product cost per sleeping bag under (a) absorption costing and (b) variable costing. 2-a. Prepare an operating income statement for the year using absorption costing. 2-b. Prepare an operating income statement for the year using variable costing. 3. Reconcile reported operating income under the two methods using the shortcut method. Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3 Reconcile reported operating income under the two methods using the shortcut method. (Round your predetermine overhead rate to 2 decimal places.) Change in inventory (in units) x Predetermined fixed overhead rate = Absorption-costing income minus variable-costing income unit increase x < Req 2B Req 3>