Denton Company manufactures and sells a single product. Cost data for the product are given: Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month $ 5 10 4 3 $ 22 $ 72,000 166,000 $ 238,000 The product sells for $52 per unit. Production and sales data for July and August, the first two months of operations, follow: Units Units Produced Sold July 24,000 20,000 August 24,000 28,000 The company's Accounting Department has prepared the following absorption costing income statements for July and August July Sales August $1,040,000 $1,456,000 Cost of goods sold 440,000 616,000 Gross margin 600,000 840,000 Selling and administrative expenses 226,000 250,000 Net operating income $ 374,000 $ 590,000 Required: 1. Determine the unit product cost under. a. Absorption costing b. Variable costing. 2. Prepare variable costing income statements for July and August. 3. Reconcile the variable costing and absorption costing net operating Incomes Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the unit product cost under: (a) Absorption costing, (b) Variable costing Unit Product Cost a Absorption costing Variable costing b Required 2 >