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 July August Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative. Total fixed cost per month The product sells for $50 per unit. Production and sales data for July and August, the first two months of operations, follow: Units Produced 15,000 15,000 $4 10 2 Sales Cost of goods nold Grons margin Selling and administrative expenses Net operating income. 3 $19 Units Sold 11,000 19,000 $ 45,000 166,000 $ 211,000 The company's Accounting Department has prepared the following absorption costing income statements for July and August: July $ 550,000 209,000 341,000 199,000 $ 142,000 August $ 950,000 361,000 589,000 223,000 4366,000 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. 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 b. Variable costing Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare variable costing income statements for July and August. Denton Company Variable Costing Income Statement Net operating income (loss) July August 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 July 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) < Required 2 Required 3 > August