Miami, Inc., planned and actually manufactured 210,000 units of its single product in 2020 , its first year of operation. Variable manufacturing cost was $18 per unit produced. Variable operating (nonmanufacturing) cost was $12 per unit sold. Planned and actual fixed manufacturing costs were $1,050,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $430,000. Miami sold 150,000 units of product at $42 per unit. Requirements 1. Miami's 2020 operating income using absorption costing is (a) $620,000, (b) $320,000, (c) $750,000, (d) $1,050,000, or (e) none of these. Show supporting calculations. 2. Miami's 2020 operating income using variable costing is (a) $1,370,000, (b) bo, (c) $620,000, (c) $320,000, (d) $750,000, or (e) none of these. Show supporting calculations. Requirement 1. Miami's 2020 operating income using absorption costing is (a) $620,000, (b) $320,000, (c) $750,000, (d) $1,050,000, or (e) none of these. Show supporting calculations. Begin by selecting the labels used in the absorption costing calculation of operating income and enter the supporting amounts. Perform the calculations in this step, but select the correct operating income in the next step. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Variable manufacturing costs \begin{tabular}{|r|} \hline 2,700,000 \\ \hline 750,000 \\ \hline \end{tabular} Allocated fixed Gross margin Fixed operating costs Variable operating costs Total operating costs Fixed operating costs Variable operating costs Total operating costs Operating income