Denton Company manufactures and sells a single product. Cost data for the product are given:Variable costs per unit:Direct materials$ $5$Direct labor$11$Variable manufacturing overhead$3$Variable selling and administrative$2$Total variable cost per unit$ $21$Fixed costs per month:Fixed manufacturing overhead$ $72,000$Fixed selling and administrative$172,000$Total fixed cost per month$ $244,000$The product sells for $$45$ per unit. Production and sales data for July and August, the first two months of operations, follow:Units ProducedUnits SoldJuly$18,00014,000$August$18,00022,000$The companys Accounting Department prepared the following absorption costing income statements for July and August:JulyAugustSales$ $630,000$$ $990,000$Cost of goods sold$322,000506,000$Gross margin$308,000484,000$Selling and administrative expenses$200,000216,000$Net operating income$ $108,000$$ $268,000$Required:$*$ Determine the unit product cost under: $*$ Absorption costing. $*$ Variable costing.$*$ Prepare variable costing income statements for July and August.$*$ Reconcile the variable costing and absorption costing net operating incomes.