The ABC Company produces a single product. Use the following information: Units in beginning inventory 0 Units produced 2,000 Units sold 1,900 Selling price per unit $100 Variable costs per unit: Direct materials $30 Direct labor $10 Variable manufacturing overhead $5 Variable selling and administrative $2 Fixed costs in total: Fixed manufacturing overhead $40.000 Fixed selling and administrative $60,000 Required: Compute the unit product cost under both absorption and variable costing. Prepare an income statement for the year using absorption costing. Prepare a contribution format income statement for the year using variable costing. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year