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Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors, In 2016, the first year of operations, Jackson produced 4,100 tons of plastic and sold 3,280 tons. In 2017 , the production and sales results were exactly reversed. In each year, the selling price per ton was $2,400, variable manufacturing costs were 17% of the sales price of units produced, variable selling expenses were 11% of the selling price of units sold, fixed manufacturing costs were $3,075,000, and fixed administrative expenses were $500,000 Prepare income statements for each year using variable costing. 11 Question 3 of 3 Homework: Chapters 17-19 Question 3 of 3 JACKSON COMPANY Income Statement Variable Costing s $ Question 3 of 3 /1 eTextbook and Media Prepare income statements for each year using absorption costing. JACKSON COMPANY Income Statement Absorption Costing Prepare income statements for each year using absorption costing. Question 3 of 3 11I $ Question 3 of 3 11E Absorption Costing $ s Reconcile the differences each year in net income under the two costing approaches. Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors, In 2016, the first year of operations, Jackson produced 4,100 tons of plastic and sold 3,280 tons. In 2017 , the production and sales results were exactly reversed. In each year, the selling price per ton was $2,400, variable manufacturing costs were 17% of the sales price of units produced, variable selling expenses were 11% of the selling price of units sold, fixed manufacturing costs were $3,075,000, and fixed administrative expenses were $500,000 Prepare income statements for each year using variable costing. 11 Question 3 of 3 Homework: Chapters 17-19 Question 3 of 3 JACKSON COMPANY Income Statement Variable Costing s $ Question 3 of 3 /1 eTextbook and Media Prepare income statements for each year using absorption costing. JACKSON COMPANY Income Statement Absorption Costing Prepare income statements for each year using absorption costing. Question 3 of 3 11I $ Question 3 of 3 11E Absorption Costing $ s Reconcile the differences each year in net income under the two costing approaches