Oriole Products manufactures and sells a variety of camping products. Recently the company opened a new factory to manufacture a deluxe portable cooking unit. Cost and sales data for the first month of operation are shown below: Beginning inventory Units produced 0 units 10,400 Units sold Manufacturing costs Fixed overhead Variable overhead Direct labour Direct material Selling and administrative costs Fixed Variable 9,000 $124,800 $7 per unit $11 per unit $28 per unit $210,000 $4 per unit sold The portable cooking unit sells for $112. Management is interested in the opening month's results and has asked for an income statement. (a) Your answer is correct. Assuming the company uses variable costing: 1. Calculate the manufacturing cost per unit. Manufacturing cost $ 46 per unit 2. Prepare a variable-costing income statement for the first month of operation. OrioleProducts Income Statement-Variable Costing For the first month of operations S Variable costs $ 1008000 S Variable costs able cost of goods sold able selling and administrative expenses il variable costs tribution margin Fixed costs OrioleProducts Income Statement-Variable Costing For the first month of operations 414000 i 36000 i d manufacturing overhead 124800 i d selling and administrative expenses 210000 i il fixed costs rating income (b) eTextbook and Media Your answer is partially correct. SA SA Reconcile the difference in net income between the absorption-costing and variable-costing methods. Variable costing operating income 223200 Fixed manufacturing overhead costs deferred in ending inventory 124800 Absorption costing operating income 348000 1008000 450000 i 558000 334800 i 223200 Attempts: 2 of 3 used