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Please give formulas and show working for every solution. Thank you! Data Selling price per unit $298 Manufacturing costs: Variable per unit produced: Direct materials

Please give formulas and show working for every solution. Thank you!

Data
Selling price per unit $298
Manufacturing costs:
Variable per unit produced:
Direct materials $114
Direct labor $65
Variable manufacturing overhead $31
Fixed manufacturing overhead per year $129,600
Selling and administrative expenses:
Variable per unit sold $3
Fixed per year $63,000
Year 1 Year 2
Units in beginning inventory 0
Units produced during the year 2,700 2,400
Units sold during the year 2,500 2,500
Enter a formula into each of the cells marked with a ? below
Review Problem 1: Contrasting Variable and Absorption Costing
Compute the Ending Inventory
Year 1 Year 2
Units in beginning inventory 0 ?
Units produced during the year ? ?
Units sold during the year ? ?
Units in ending inventory ? ?
Compute the Absorption Costing Unit Product Cost
Year 1 Year 2
Direct materials ? ?
Direct labor ? ?
Variable manufacturing overhead ? ?
Fixed manufacturing overhead ? ?
Absorption costing unit product cost ? ?
Construct the Absorption Costing Income Statement
Year 1 Year 2
Sales ? ?
Cost of goods sold ? ?
Gross margin ? ?
Selling and administrative expenses ? ?
Net operating income ? ?
Compute the Variable Costing Unit Product Cost
Year 1 Year 2
Direct materials ? ?
Direct labor ? ?
Variable manufacturing overhead ? ?
Variable costing unit product cost ? ?
Construct the Variable Costing Income Statement
Year 1 Year 2
Sales ? ?
Variable expenses:
Variable cost of goods sold ? ?
Variable selling and administrative expenses ? ? ? ?
Contribution margin ? ?
Fixed expenses:
Fixed manufacturing overhead ? ?
Fixed selling and administrative expenses ? ? ? ?
Net operating income ? ?

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