Miami, lnc., planned and actually manufactured 250,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $19 per unit produced. Variable operating (nonmanufacturing) cost was $13 per unit sold. Planned and actual fixed manufacturing costs were $750,000. Planned and actual xed operating (nonmanufacturing) costs totaled $420,000. Miami sold 170,000 units of product at $41 per unit. Read the muirements. @ Requirement 1. Miami's 2017 operating income using absorption costing is (a) $600,000, (b) $360,000, (c) $780,000, (d) $1,020,000, 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.) Absorption costing Revenues $ 6,970,000 Cost of goods sold: Variable manufacturing costs $ 4,750,000 Beginning inventory ' 0' Allocated fixed manufacturing costs ' 750:000' Cost of goods available for sale ' 5,500,000' Deduct ending inventory ' (1:750:000)' Cost of goods sold 3,740,000' ' ' Miami, Inc., planned and actually manufactured 250,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $19 per unit produced. Variable operating (nonmanufacturing) cost was $13 per unit sold. Planned and actual fixed manufacturing costs were $750,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $420,000. Miami sold 170,000 units of product at $41 per unit. Read the requirements. . . . Absorption costing Revenues $ 6,970,000 Cost of goods sold: Variable manufacturing costs $ 4,750,000 Beginning inventory 0 Allocated fixed manufacturing costs 750,000 Cost of goods available for sale 5,500,000 Deduct ending inventory (1,760,000) Cost of goods sold 3,740,000 Gross margin 3,230,000 Variable operating costs 2,210,000 Fixed operating costs 420,000 Operating incomeMiami, lnc., planned and actually manufactured 250,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $19 per unit produced. Variable operating (nonmanufacturing) cost was $13 per unit sold. Planned and actual fixed manufacturing costs were $750,000. Planned and actual xed operating (nonmanufacturing) costs totaled $420,000. Miami sold 170,000 units of product at $41 per unit. Read the muirements. Operating income Miami's 2017 operating income using absorption costing is V $600,000. $360,000. $780,000. $1,020,000. none of these. Requirement 2. Miami's 2017 operating income using variable costing is (a) $1 ,110,000, (b) $600,000, (c) $360,000, (d) $780,000, or (9) none of these. Show supporting calculations. Begin by selecting the labels used in the variable 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 costing Miami, Inc., planned and actually manufactured 250,000 units of its single product in 2017, its first year of operation. Variable manufacturing cost was $19 per unit produced. Variable operating (nonmanufacturing) cost was $13 per unit sold. Planned and actual fixed manufacturing costs were $750,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $420,000. Miami sold 170,000 units of product at $41 per unit. Read the requirements. . . . Variable costing Operating incomeRequirements 1. Miami's 2017 operating income using absorption costing is (a) $600,000, (b) $360,000, (0) $780,000, (d) $1,020,000, or (e) none of these. Show supporting calculations. 2. Miami's 2017 operating income using variable costing is (a) $1,110,000, (b) $600,000, (0) $360,000, (d) $780,000, or (e) none of these. Show supporting calculations