please befor 11pm!! need the exceel formulation as explantion please

D E F 1 Operating data for Siesta Company and its absorption costing income statements for 2 the last two years are presented below: 3 a) 4 5 Year 1 Year 2 5 6 6 7 8 Units in beginning inventory Units produced Units sold 2,000 14,000 15,000 1,000 14,000 12,000 8 10 $ 240,000 $ 320,000 11 b) 12 13 14 15 16 17 18 19 20 Sales Cost of Goods Sold Beginning inventory Add: Cost of Goods Manufactured Goods available for sale Less: Ending inventory Cost of Goods Sold Gross margin Selling and administrative expenses Operating income 23,194 162,360 185,554 11,597 173,957 66,043 89,000 (22,957) $ 11,597 162,360 173,957 34,791 139,166 180,834 81,200 99,634 D 18 B Selling and administrative expenses Operating income 89,000 (22,957) $ 81,200 99,634 $ 19 20 21 22 23 24 25 26 27 28 Fixed manufacturing overhead Direct material per unit Direct labour per unit Variable Manufacturing overhead per unit Variable Selling & Admin costs per unit $ $ $ $ $ 62,400 $ 2.00 $ 3.00 $ 2.14 $ 2.60 $ 62,400 2.00 3.00 2.14 2.60 337 E F G 1 Required: a) What was the unit product cost in each year under variable costing 2 3 4 5 Year 1 Year 2 8 9 10 Units produced Direct materials Direct labour Variable manufacturing overhead Total unit product cost 11 12 b) Prepare new income statements for each year using variable costing E F G H 1 11 12 13 14 15 b) Prepare new income statements for each year using variable costing. Siesta Company Variable Costing Income Statement Year 1 Year 2 Sales Less: Variable expenses 16 17 18 19 20 21 22 23 24 25 Contribution margin 27 Operating income foss) c) Reconcile the difference in Operating Income between variable costing and absorption costing Variable costing operating income 30 31 32 33 34 35 36 37 38 39 Absorption costing operating income