Regina Company manufacturers a professional-grade vacuum cleaner and began operations in 2017. For 2017, Regina budgeted to produce and sell 28,000 units. The company had no price, spending, or efficiency variances and writes off production-volume variance to cost of goods sold. Actual data for 2017 are given as follows: (Click the icon to view the actual data for 2017.) Read the requirements. Requirement 1. Prepare a 2017 income statement for Regina Company using variable costing. Complete the top half of the income statement first, then complete the bottom portion. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Variable Costing i X Data Table 25,000 21,500 Units produced Units sold Selling price Variable costs: Manufacturing cost per unit produced: $ 450 Direct materials 26 24 X i Requirements 54 45 Direct manufacturing labor Manufacturing overhead Marketing cost per unit sold Fixed costs: Manufacturing costs Administrative costs $ 1,512,000 926,400 1. Prepare a 2017 income statement for Regina Company using variable costing. 2. Prepare a 2017 income statement for Regina Company using absorption costing. 3. Explain the differences in operating incomes obtained in requirements 1 and 2. 4. Regina's management is considering implementing a bonus for the supervisors based on gross margin under absorption costing. What incentives will this bonus plan create for the supervisors? What modifications could Regina management make to improve such a plan? Explain briefly. Marketing costs 1,421,600 Choose from any list or enter any number in the input fields and then Print Done 5 parts remaining