Jax Co. started 2021 with no inventories. During the year, Jax Co. produced 50,000 widgets but only sold 43,000 of the widgets. The widgets have a selling price of $10 each. Cost data for the year is as follows: Question 10 Calculate Operating Income for 2021 assuming Jax Co. uses variable costing. In addition to showing your final calculated amount for Operating Income, you may also show other amounts you calculated along the way (e.g. COGS and Contribution Margin) in order to earn partial credit in case your Operating Income answer is incorrect. Partial credit could make substantial difference in your grade. Calculate Operating Income for 2021 assuming Jax Co. uses absorption costing. In addition to showing your final calculated amount for Operating Income, you may also shov other amounts you calculated along the way (e.g. COGS and Gross Margin) in order to earn partial credit in case your Operating Income answer is incorrect. Partial credit could make a substantial difference in your grade