Co Dexter Corporation produces and selis a singl product, a wooden hand loom for weaving smal items such as scarves. Selected cost and operating data relating to the product ARS given below Manufacturing costs: $50 Vpriable manufacturing cost per unit produced: Direct labor $6 Variable manufacturing overhead Fixed manufacturing overhead per year Variable selling and administrative per unit sold.... Fixed selling and administrative per year.. tou n0 120.000x Selling and administrative expenses: 0 Units produced during the year.................... Units sold during the year 0,0rui 8000 2,000 Required: 1. Assume the company uses absorption costine. a. Compute the unit product cost b. Prepare an income statement Assume the company uses variable costing. a. Compute the unit product cost b. Prepare an income statement 2. 3. Reconcile the variable costing and absorption costing net operating incomes. NC Lobor b