Homework for chapter 5 Page 1 of2 Noreen, Managerial Accounting for Managers, 4e: ACCT 5233.W1 Managerial Accounting Spring 18 Venita Allen Homework for chapter 5 instructions I help 2. 6.33 points Denton Company manufactures and sells a single product. Cost data for the product are given below: Variable costs per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative 54,000 166,000 Total fixed cost per month $ 220,000 The product sells for $48 per unit. Production and sales data for July and August, the first two months of operations, are as follows Units Produced 18,000 18,000 Units Sold 14,000 22,000 July August The company's Accounting Department has prepared absorption costing income statements for July and August as presented below August 396,000 $420,000 660,000 July 252,000 194,000 $ 672,000 $1,056,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income 210,000 5 226,000 450,000 Required 1. Determine the unit product cost under absorption costing and variable costing Unit Product Cost a. Absorption costing b. Variable costing 2 Prepare contribution format variable costing income statements for July and August