1 Required. a. Compute the unit product cost under both the absorption costing and variable costing approache b. Prepare an income statement for the year using absorption costing. c. Prepare an income statement for the year using variable costing. d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) abe Complete this question by entering your answers In the tabs below. 00:09:50 Required A Required B Required C Required D Prepare an Income statement for the year using variable costing. Sales Variable expenses: $11,485,500 Variable cost of goods sold $ 7,410,000 Variable selling and administrative expenses 617,500 + Contribution margin 8,027,500 3,458,000 Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses 454,500 Net operating income 454,500 3,003,500 < Required B Required D >