6. Kerwin Company uses standard costing. Tim Sesnie, the new president of Kerwin Company, is presented with the following data for 2017; (Click the icon to view the data.) Read the Requirement 1At what percentage of denominator level was the plant operating during 2017? Determine the formula, then compute at what percentage of denominator level the plant was operating during 2017. (Abbreviation used: "mg-manufacturing.) % of denominator level much foxed manufacturing overhead was included in the 2018 and the 2017 ending inventory under absorption costing? Determine the formula, then compute how much of fixed manufacturing overhead was included in the 2016 and the 2017 ending inventory under absorption costing. (Abbreviation used: "mfg manufacturing.) Fixed mig overhead in inventory 2016 2017 Requirement 3. Reconcile and explain the difference in 2017 operating incomes under variable and absorption costing Begin by determining the formula that will highlight the difference between the operating income under each method, then complete the equation for 2017. (Abbreviations used: "var.- Variable. "mfg manufacturing. "beg-beginning. "end. ending.) Absorption-costing Variable-cosing operating income operating income 2017 The difference between absorption and variable costing is due solely to moving (7) were (8) -in 2017. Requirement 4. Tim Sesnie is concerned: He notes that despite an increase in sales aver 2016, 2017 operating income when the inventories has actually declined under absorption costing. Explain how this occurred Under absorption costing, operating income is a function of (9) (10) (12) 1: Data Table During 2017, Kerwin experienced a in inventory levels as a result of (11) The end result was that much of