A manufacturing company has shared the following results for their latest year of operations. Inventory Beginning inventory: Number of units produced: Number of units sold: Number of units in ending inventory: 3,100 8,200 6,780 4,520 Selling price per unit: $18.00 Variable costs per unit Direct materials: Direct labour: Variable manufacturing overhead: Variable selling and administrative expenses: $5.00 $4.60 $1.30 $1.50 Fixed costs per year Fixed manufacturing overhead: Fixed selling and administrative expenses: $19,000 $5,500 1. Compute the product cost per unit under absorption costing (rounded to two decimals). (1 mark) Number 2. Compute the product cost per unit under variable costing (rounded to two decimals). (1 mark) Number 3. Prepare a contribution margin income statement under variable costing for Bright Inc. Enter losses in contribution margin or operating income as negative numbers. (1/2 mark each - 6.5 marks total) Contribution Margin Income Statement (Variable Costing) Sales Number Variable expenses Beginning inventory Number Cost of goods manufactured Number Goods available for sale Number Ending inventory Number Variable cost of goods sold Number Variable selling and administrative expenses Number Number Contribution margin Number Fixed expenses Fixed manufacturing overhead Number Fixed selling and administrative expenses Number Number Operating income / (loss) Number 4. Reconcile variable costing operating income (or loss) to absorption costing income (or loss), rounding to nearest dollar. Enter losses in operating income as negative numbers. Enter all other inputs as positive numbers. (1/2 mark for variable costing operating income, 1 mark for all others, 3.5 marks total) Reconciliation Variable costing operating income / (loss) Number Fixed manufacturing overhead costs deferred in ending inventory under absorption costing Number Fixed manufacturing overhead costs released from beginning inventory under absorption costing Number Absorption costing operating income / (loss) Number