Check my work 5 Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the year follows: Whitman Company Income statenent 10 points Sales (39,000 units $45-10 per unit) Cost of goods sold (39,000 units $23 per unit) Gross margin Selling and administrative expenses Net operating income 1.758.900 487,500 374,400 eBook Print References The company's selling and administrative expenses consist of $292,500 per year in fixed expenses and $5 per unit sold in variable expenses. The $23 unit product cost given above is computed as follows: Direct materiale Direct labor Variable manufaceturing overhead Pixed manufacturing overhead ($270,000 54,000 unite) Abaorption costing unit prodact cot s 23 Required: 1. Redo the company's income statement in the contribution format using variable costing. 2. Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above. Complete this question by entering your answers in the tabs below Complete this question by entering your answers in the tabs below. Required 1 Required 2 10 points Redo the company's income statement in the contribution format using variable costing eBook Print References Whitman Company Variable Costing Income Statement Ruquired 1 Required 2 5 Check my work Required: 1. Redo the company's income statement in the contribution format using variable costing. 2. Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above. 10 points Complete this question by entering your answers in the tabs below eBook Print References Required 1Required 2 Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above. (Enter any losses or deductions as a negative value.) tion of Variable Costing and A Variable costing net operating inoome Absorption costing net operating income Required 1