4. Summer Fun produces one product. The following data is available about costs for the first three months of operation: Selling price $115 Variable costs per unit: Direct materials $39 Direct labour 26 Variable manufacturing overhead 3 Variable selling and administrative expense 20 Fixed costs: Fixed manufacturing overhead $180,000 Fixed selling and administrative expense 120,000 Month Units produced Units sold July 50,000 45,000 August 40,000 35,000 September 45,000 48,000 180 Required (using excel): 25 1. Compute for each month the cost per unit using variable cost. 2. Compute for each month the cost per unit using absorption costing. 3. Compute the cost of ending inventory each month using variable and absorption costing 4. Prepare a contribution format income statement for each month using variable costing 5. Prepare an income statement for each month using absorption costing. 6. Reconcile variable costing and absorption costing operating income figures for each year. 7. Explain to management why producing more may result in higher net income