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| Reunion Enterprises produces a video streaming device for homes. The company data for the first two years of operations follows 30 Variable conta per unit Manufacturing Diret materials Direct Labor Variable manufacturing overhead Variable selling and administrative Tixed costs per year Fixed manufacturing overhead Tixed selling and administrative expenses 3 $ . $260,000 $ 80,000 During its first year of operations, Reunion produced 50,000 units and sold 10,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company's product is $85 per unit Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2. 2. Assume the company uses absorption costing o. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating Income In Year 1 Complete this question by entering your answers in the tabs below. Reg 1A Reg 13 Reg 2A Reg 28 Reg 3 Reg 1A Reg 10 Red 2A Req 28 Req3 Assume the company uses variable costing. Prepare an Income statement for Year 1 and Year 2. Rounion Enterprises Income Statement Your 1 Year 2 Sales Variable expenses Variable cost of goods sold Variable selling and administrative 0 0 0 0 Total variable expenses Contribution margin Fixed expenses Fixed manufacturing overhoud Fixed selling and administrative expenso Total foxed expenses Net operating income (los) 0 $ 0 $ 0 Req1A Req 2A > Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2. 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating Income In Year 1 Complete this question by entering your answers in the tabs below. Req1A Reg 1B Req ZA Reg 28 Req3 Assume the company usen absorption costing, Compute the unit product cost for Year 1 and Year 2. (Round your intermediate calculations and final answers to 2 decimal places.) Year 1 Your 2 Unit product com Complete this question by entering your answers in the tabs below. Reg 14 Reg 1B Reg 2A Reg 28 Req3 Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. (Round your intermediate calculations to 2 decimal places.) Reunion Enterprises Income Statement Yoart Year 2 Sales Cost of goods sold Gross margin Seling and administrative expenses Not operating income (los) $ 0$ Complete this question by entering your answers in the tas below. Req1A Reg 13 Pea 2 Req 23 Reg 3 Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses or deduction as a negative value, Round your intermediate calculations to 2 decimal places.) Your ! Your 2 Variable conting niet operating Income dow) Add: Fixed manufacturing overhead cont deferred in inventory understorption costing (boduct: Fixed manufacturing over and cost deferred in invertory under absorption costing Absorption costing net operating income (one)