Exercise 6-3 Reconcillation of Absorption and Variable Costing Net Operating Incomes [L06-3 The following information applies to the questions displayed below] Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities The compny uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government The company has provided the following data: Inventories Beginning (units) Ending (units) 200 168 160 190 190 248 Variable costing net operating income 300,000$279,000$258,000 fixed manufacturing overhead per unit was constant at $550 for all three yeans Exercise 6-3 Part 1 Required Calculate cach year's absorption costng net opereting ncome Enter any losses or deductions as e negetive value) ation of Variable Costing and Absorption Costng Net Operating Incomes Year 1 Year 2 Year 3 Vanable costing net operating income Add (deduct) fixed manufacturing overtead deferred in (released from) iriventory under absorption costing Absorption costing net operating income