Required a. Compute the unit product cost under both the absorption costing and variable costing approaches. b. Prepare an income statement for the year using absorption costing c. Prepare an income statement for the year using variable costing. d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare an income statement for the year using absorption costing Absorption Costing Income Statement Required A Required C > Required: a. Compute the unit product cost under both the absorption costing and variable costing approaches b. Prepare an income statement for the year using absorption costing. c. Prepare an income statement for the year using variable costing. d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. Complete this question by entering your answers in the tabs below. Required A Required BRequired CRequired D Prepare an income statement for the year using variable costing Variable Costing Income Statement Variable expenses: Fixed expenses: Required B Required D > Assume that direct labor is a variable cost. Required: a. Compute the unit product cost under both the absorption costing and variable costing approaches. b. Prepare an income statement for the year using absorption costing c. Prepare an income statement for the year using variable costing d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above Complete this question by entering your answers in the tabs below. Required A Required B Required CRequired D Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Net operating income (loss) under variable costing Net operating income (loss) under absorption costing Required C Required D Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: 28,000 24,000 466 Variable per unit Fixed per year 21 $336,000 Skipped Manufacturing costs: 296 57 34 $448,000 Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year Assume that direct labor is a variable cost. Required a. Compute the unit product cost under both the absorption costing and variable costing approaches b. Prepare an income statement for the year using absorption costing c. Prepare an income statement for the year using variable costing d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above Complete this question by entering your answers in the tabs below. Required ARequired B Required C RequiredD Compute the unit product cost under both the absorption costing and variable costing approaches Cost Per Unit Absorption costing Variable costing Required B Required A