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Jason Company was organized just one year ago. The results of the company's first year of operations are shown below (absorption/full costing basis): JASON COMPANY

image text in transcribedimage text in transcribedimage text in transcribed Jason Company was organized just one year ago. The results of the company's first year of operations are shown below (absorption/full costing basis): JASON COMPANY Income Statement Sales (40.000 units at $58,75 per unit) $2.350.000 Less cost of good sold: Beginning inventory $ Add cost of goods manufactured The company's selling and administrative expenses consist of $200.000 per year in fixed expenses and $3 per unit sold in variable expenses. The company's $41 unit product cost given above is computed as follow: Required: 1. Redo the company's income statement in the contribution format using variable costing. Reconcile any difference between the net operating income figure on your variable costing income statement and the net operating income figure on the absorption/full costing income statement above

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