Denton Company manufactures and sells a single product. Cost data for the product are given $ 15 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 2 $19 $ 56,000 166,000 $ 262,000 The product sells for $48 per unit. Production and sales data for July and August, the first two months of operations, follow July August Produced 24,000 24.000 Units Sold 20,000 28,000 The company's Accounting Department has prepared the following absorption costing income statements for July and August Sales Cost of goods sold Gross martin Selling and administrative spenses July $ 960,000 420.000 540,000 206,000 August $ 1,344,000 588,000 756,000 222,00 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 B Absorption costing Variable costing D Regen Required 2 > 4 Prepare variable costing income statements for July and August Denton Company Variable Costing Income Statement points August Salus Variable expenses Variable cost of goods sold Variable selling and administrative expenses Refecto 0 0 0 Total vanable expenses Contribution margin Food expenses Feed manufactuning overhead Fixed setting and administrative expenses 0 Totalfixed expenses Not operating income (loss) 0 0$ $ 0 (Required 1 Required 3 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Reconcile the variable costing and absorption costing net operating incomes. (Enter any losses or deductions as a negative value.) Reconciliation of variable Costing and Absorption Costing Net Operating Incomes August Variable costing net operating income (loss) Add (deduct) fixed manufacturing overhead cost deferred in (released from) inventory under absorption costing Absorption costing net operating income (loss) July