2. Zoey Corporation produces a single product. Data concerning the company's operations last year appear below: Units in beginning inventory 1,000 Units produced 10,000 Units sold 9,000 Selling price per unit RM60 Variable costs per unit Direct materials RM15 Direct labor RM5 Variable manufacturing overhead RM2 Variable selling and administrative RM4 Fixed costs in total: Fixed manufacturing overhead RM200,000 Fixed selling and administrative RM70,000 Assume direct labor is a variable cost. Required: a. Compute the unit product cost under both absorption and variable costing. (CO2) b. Prepare an income statement for the year using absorption costing. (CO2) c. Prepare an income statement for the year using variable costing. (CO2) d. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year. (CO2) [13 M