Required information [The following information applies to the questions displayed below.] Diego Company manufactures one product that is sold for $70 per unit. The following information pertains to the company's first year of operations in which it produced 53,000 units and sold 48,000 units. $ $ Variable costs per unit: Manufacturing: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses 21 10 2 4 $1,060,000 $ 557,000 Required: 1. What is the unit product cost under variable costing? Unit product cost 2. What is the unit product cost under absorption costing? Unit product cost 6. What is the company's net operating income (loss) under absorption costing? Net operating income Net operating loss 7. What is the amount of the difference between the variable costing and absorption costing net operating incomes (losses)? Difference of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) Absorption costing net operating income (loss) 7. What is the amount of the difference between the variable costing and absorption costing net operating incomes (losses)? Difference of Variable Costing and Absorption Costing Net Operating Incomes Variable costing net operating income (loss) AL est saatis startiisissa local Add: Fixed manufacturing overhead cost deferred in inventory under absorption costing Add: Fixed manufacturing overhead cost released from inventory under absorption costing Deduct: Fixed manufacturing overhead cost deferred in inventory under absorption costing Deduct: Fixed manufacturing overhead cost released from inventory under absorption costing 4. What is the company's net operating income (loss) under variable costing