Check my work Sales ( $61 per unit) Cost of goods sold ( 31 per unit) Gross margin Selling and administrative expenses Net operating income Year1 $1,220,000 620.000 600,000 313,000 $ \287,000 Year 2 $1,830,000 930,000 900.000 363.000 $ 557,000 *$3 per unit variable: $253,000 fixed each year. Ook The company's $31 unit product cost is computed as follows: Direct materials Direct labor Variable manufacturing overhea Tixed manufacturing overhead ($300,000 + 25,000 units) Absorption coating unit product coat Forty percent of fixed manufacturing overhead consists of wages and salaries, the remainder consists of depreciation charges on production equipment and buildings. Production and cost data for the first two years of operatons are: Units produced Units sold Year 1 25.000 20,000 Year 2 25.000 30.000 Regulred: D . K-Chapter 6 6 Help Save & Exit Submit Check my work Production and cost data for the first two years of operatons are: Units produced Units sold 25,000 20,000 Year 2 25,000 30,000 Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income in Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating Income figures for each year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Reconcile the absorption costing and the variable costing net operating income figures for each year. (Enter any losses or deductions as a negative value) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes 1 Years Variable costing net operating income loss) Year 2 Absorption costing net operating income 2 Check my won Production and cost data for the first two years of operatons are: Units produced Units sold Year 1 25,000 20,000 Year 2 25,000 30,000 Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income In Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating Income figures for each year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the variable costing net operating income in Year 1 and in Year 2? Yeart Year 2 Net operating income foss)