Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the first year of operations, Jackson produced 4,000 tons of plastic and sold 3,500 tons. In 2017, the production and sales results were exactly reversed. In each year, the selling price per ton was $2,000, variable manufacturing costs were 15% of the sales price of units produced, variable selling expenses were 10% of the selling price of units sold, fixed manufacturing costs were $2,800,000, and fixed administrative expenses were $500,000.

C) Reconcile the differences each year in net income under the two costing approaches. (task to do)

Please show the correct table and steps for each red box. thank you

01 01 Variable costing net income 1950000 i 2000000 Fixed manufacturing overhead 100 expensed with variable costing Less: Fixed manufacturing overhead expensed with absorption costing 700 T 700 2000000 2000000 Difference Absorption costing net in