During Heaton Company's first two years of operations, it reported absorption costing net operating in $ Sales (@ $62 per unit) Cost of goods sold (@$35 per unit) Gross margin Selling and administrative expenses Net operating income Year 1 93e, eee 525,00 405,000 294,800 111,000 Year 2 $ 1,55e,eee 875, eee 675,000 324, eee $ 351.ee $ *$3 per unit variable: $249,000 fixed each year, The company's $35 unit product cost is computed as follows: $ 10 9 2 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($280,000 = 2e,eee units) Absorption costing unit product cost 14 $ 35 Production and cost data for the first two years of operations are: Units produced Units sold Year 1 20,680 15, eee Year 2 20, een 25, eee Required: 1. Using variable costing, what is the unit product cost for both years? 2 What is the variable costing net operating income In Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating income figures for each year Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the variable costing net operating income in Year 1 and in Year 2? (Loss amounts should be indicated wi Year 1 Year 2 Net operating income (loss 5 (160.000) ME STA Tyne here to search