LGO 5 2 points During Heaton Company's first two years of operations, it reported absorption costing net operating income as follows: Year 1 Year 2 Sales ($60 per unit) $950,000 $1,500,000 Cost of goods sold ( 537 per unit) 592,000 962,000 Gross margin 368,000 590,000 Selling and administrative expenses. 302.000 332,000 Net operating income $ 166,000 $206,00 Book Ft References $3 per unit variable: $254,000 fixed each year The company's $37 unit product cost is computed as follows: $ 10 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead (5252,600 21.000 units) Absorption costing unit product cost $ 37 Forty percent of fixed manufacturing overhead consists of wages and salaries, the remainder consists of depreciation charges on production equipment and buildings Production and cost data for the first two years of operatons are Units produced Units sold Year: 1 21.ee 16,000 Year 2 21,000 26,00 nts Units produced Units sold 21,000 16,000 ar 21,800 26,000 eBook Print Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income in Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating income figures for each year, References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using variable costing, what is the unit product cost for both years? Unit product cost Required 25 eBook Print Required: 1. Using variable costing, what is the unit product cost for both years? 2. What is the variable costing net operating income in Year 1 and in Year 2? 3. Reconcile the absorption costing and the variable costing net operating income figures for each year. References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the variable costing net operating income in Year 1 and in Year 2? Year 1 Year 2 Net operating income (los) Required 1 Required 3 > all the variable costing net operating income figures for each year, Complete this question by entering your answers in the tabs below. ok ces Required 1 Required 2 Required 3 Reconcile the absorption costing and the variable costing net operating income figures for each year. (Enter any losses or deductions as a negative value.) Reconciliation of Variable Costing and Absorption Costing Net Operating Income Yeart Variable costing net operating income (loss) Year 2 Absorption costing net operating income (Required 2