Far North Telecom, Ltd., of Ontario, has organized a new division to manufacture and sell specialty cellular telephones. The division's monthly costs are shown below: Manufacturing costs: Variable costs per unit: Direct materials $87 Variable manufacturing overhead...$5 Fixed manufacturing overhead costs (total)....$260,400 Selling and administrative costs: Variable.....14% of sales Fixed (total)...$161,000 Far North Telecom regards all of its workers as full-time employees and the company has a long-standing no layoff policy. Furthermore, production is highly automated. Accordingly, the company includes its labor costs in its fixed manufacturing overhead. The cellular phones sell for $270 each. During September, the first month of operations, the following activity was recorded: Units produced 4,200 Units sold 3,400 (a)Compute the unit product cost under Absorption costing. (Omit the "$" sign in your response.) Unit product cost....$ 154 (b)Compute the unit product cost under Variable costing. (Omit the "$" sign in your response.) Unit product cost...$ 92 Requirement 2: Prepare an absorption costing income statement for September. (Input all amounts as positive values. Omit the "$" sign in your response.) Sales...........................$918000 Cost of goods sold.........$523600 Gross profit..................$394400 Selling and administrative expensesCost of goods manufacturedSales.......$ ? Net operating operating income.......$ ? Requirement 3: Prepare a contribution format income statement for September using variable costing. (Input all amounts as positive values except net operating loss which should be indicated by a minus sign. Omit the "$" sign in your response.) sales....................................... $918000 Variable expenses variable ofcost of goods sold ......$312800 variable selling and administrative expenses .....$ ? contribution margin........$? Fixed manufacturing overhead....$? Fixed selling and administrative expenses.......$? Net operating income............$? Requirement 4: Assume that the company must obtain additional financing in order to continue operations. As a member of top management, would you prefer to rely on the statement in (2) above or in (3) above when meeting with a group of prospective investors? Absorption costing statement Requirement 5: Reconcile the absorption costing and variable costing net operating incomes in requirement 2 and 3 above. (Negative amounts should be indicated by a minus sign. Omit the "$" sign in your response.) variable costing net operating income .......$? add- fixed manurfacturing overhead cost deferred.....$? Absorption costing net operating income........$? I have answered some of it but am stuck please help where question marks are