Dexter Corporation produces and sells a single product, a wooden hand loom for weaving sm items such as scarves. Selected cost and operating data relating to the product for two years given below: Required: 1. Assume the company uses absorption costing. a. Compute the unit product cost in each year. b. Prepare an income statement for each year. 2. Assume the company uses variable costing. a. Compute the unit product cost in each year. b. Prepare an income statement for each year. 3. Reconcile the variable costing and absorption costing net operating incomes