please complete all 4 requirements , part 1,2,3,4

Sesnie Company uses standard costing. Tim Smith, the new president of Sesnie Company, is presented with the following data for 2017 . (Click the icon to viow the data.) Read the resulrements Requirement 1. At what percentage of denominator level was the plant operating during 2017? Determine the formula, then compute at what peroentage of denominator level the plant was operating during 2017 . (Abbreviation ised: "midg" = imarufacturing) - Fi of denominator lovel Data table Sesnie Company Income Statements for the Year Ended December 31, 2017 Variable Absorption Costing Costing Revenues Cost of goods sold (at standard costs) 4,700,000$9,050,000=$9,050,000 Fixed manufacturing overhead (budgeted) 1,250,000 Fixed manufacturing overhead variances (all unfavorable): Spending Production volume Total marketing and administrative costs (all fixed) Total costs Operating income \begin{tabular}{rrr} 105,000 & 105,000 \\ 0 & 450,000 \\ 1,565,000 & & 1,565,000 \\ \hline 7,620,000 & & 8,000,000 \\ \hline$1,430,000 & $1,050,000 \\ \hline \end{tabular} Inventories (at standard costs) December 31,2016 $1,160,000$1,695,000 December 31,2017 40,000195,000 Requirements 1. At what percentage of denominator level was the plant operating during 2017 ? 2. How much fixed manufacturing overhead was included in the 2016 and the 2017 ending inventory under absorption costing? 3. Reconcile and explain the difference in 2017 operating incomes under variable and absorption costing 4. Tim Smith is concerned: He notes that despite an increase in sales over 2016, 2017 operating income has actually declined under absorption costing. Explain how this occurred