Maga Company, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price	$	167
Units in beginning inventory		0
Units produced		3,410
Units sold		3,180
Units in ending inventory		230
Variable costs per unit:
Direct materials	$	48
Direct labor	$	55
Variable manufacturing overhead	$	13
Variable selling and administrative	$	12
Fixed costs:
Fixed manufacturing overhead	$	102,300
Fixed selling and administrative	$	12,720

Required:

a.	What is the unit product cost for the month under variable costing? (Do not round intermediate calculations. Omit the "$" sign in your response.)

	Cost per unit
Variable costing	$

b.	What is the unit product cost for the month under absorption costing? (Omit the "$" sign in your response.)

	Cost per unit
Absorption costing	$

c.	Prepare a contribution format income statement for the month using variable costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Variable Costing Income Statement
(Click to select)SalesVariable cost of goods soldManufacturing overheadVariable selling and administrative expensesContribution marginNet operating income (loss)Selling and administrative expenses		$
Variable expenses:
(Click to select)Direct laborSalesVariable selling and administrative expensesVariable cost of goods soldNet operating incomeContribution marginDirect materials	$
(Click to select)Variable selling and administrative expensesContribution marginSalesDirect materialsVariable cost of goods soldDirect laborNet operating income
(Click to select)SalesNet operating income (loss)Manufacturing overheadVariable selling and administrative expensesSelling and administrative expensesContribution marginVariable cost of goods sold
Fixed expenses:
(Click to select)SalesFixed manufacturing overheadVariable cost of goods soldVariable selling and administrative expensesNet operating incomeContribution marginFixed selling and administrative expenses
(Click to select)Net operating incomeSalesVariable cost of goods soldContribution marginVariable selling and administrative expensesFixed selling and administrative expensesFixed manufacturing overhead
(Click to select)Net operating income (loss)Selling and administrative expensesContribution marginVariable cost of goods soldVariable selling and administrative expensesSalesManufacturing overhead		$

d.	Prepare an income statement for the month using absorption costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Absorption Costing Income Statement
(Click to select)Variable selling and administrative expensesCost of goods soldNet operating income (loss)Fixed selling and administrative expensesGross marginSales		$
(Click to select)Net operating income (loss)Cost of goods soldGross marginVariable selling and administrative expensesFixed selling and administrative expensesSales
(Click to select)Cost of goods soldVariable selling and administrative expensesNet operating income (loss)Fixed selling and administrative expensesSalesGross margin
Selling and administrative expenses:
(Click to select)Cost of goods soldSalesVariable selling and administrative expensesNet operating income (loss)Fixed selling and administrative expensesGross margin	$
(Click to select)Gross marginSalesFixed selling and administrative expensesVariable selling and administrative expensesCost of goods soldNet operating income (loss)
(Click to select)Fixed selling and administrative expensesCost of goods soldNet operating income (loss)Variable selling and administrative expensesSalesGross margin		$

e.	Reconcile the variable costing and absorption costing net operating incomes for the month. (Omit the "$" sign in your response.)

Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes
Variable costing net operating income	$
(Click to select)DeductAdd: (Click to select)Fixed manufacturing overhead costs deferred in inventory under absorption costingFixed manufacturing overhead costs released from inventory under absorption costing
Absorption costing net operating income	$