Please fix the parts in the red and show how you got the answer.

Denton Company manufactures and sells a single product. Cost data for the product are given below: Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month $ 21 $162,000 169,000 $331,000 The product sells for $54 per unit. Production and sales data for July and August, the first two months of operations, are as follows: Units Produced 27,000 27,000 Units Sold 23,000 31,000 July August The company's Accounting Department has prepared absorption costing income statements for July and August as presented below: Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income July $1,242,000 575,000 $ 667,000 215,000 $ 452,000 August $1,674,000 775,000 $ 899,000 231,000 $ 668,000 Required: 1. Determine the unit product cost under absorption costing and variable costing. Answer is complete and correct. Unit Product Cost $ 25 Absorption costing Variable costing $ 19 2. Prepare contribution format variable costing income statements for July and August. Answer is complete but not entirely correct. Denton Company Variable Costing Income Statement July Sales $ 452,000 Variable expenses: Variable cost of goods sold 437,000 Variable selling and administrative 46,000 expenses August $ 668,000 589,000 62,000 483,000 (31,000) 651,000 17,000 Total variable expenses Contribution margin Fixed expenses: Fixed manufacturing overhead Fixed selling and administrative expenses 162,000 169.000 162,000 169,000 Total fixed expenses 331,000 331,000 Net operating income (loss) (362,000) (314,000) 3. Reconcile the variable costing and absorption costing net operating income (loss) figures. X Answer is complete but not entirely correct. Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes July Variable costing net operating income (loss) $ 226,000 $ Add (deduct) fixed manufacturing overhead cost deferred in (released 24,000 from) inventory under absorption costing Absorption costing net operating income (loss) $ 250,000 $ August 474,000 24,000 450,000