please shoe calculations and answers clearly.

Question 4: (15 points) Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the year follows: Whitman Company Income Statement $41.10 per unit) Cost of goods sold (40,000 unitsx $21 per unit) 840,000 Sales (40,000 units $1,644,000 Gross margin Selling and administrative expenses Net operating income 804,000 420,000 S 384,000 The company's selling and administrative expenses consist of S300,000 per year in fixed expenses and s3 per unit sold in variable expenses. The S21 unit product cost given above is computed as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($250,000 50,000 units) 5 Absorption costing unit product cost $10 4 S21 Required: 1. Redo the company's income statement in the contribution format using variable costing (7 points) 2. Reconcile any difference between the net operating income on your variable costing income statement and the net operating income on the absorption costing income statement above.(8 points)