The company's $34 unit product cost is computed as follows: Forty percent of fixed manufacturing overhead consists of wages and salarles; the remainder conslsts of depreclation charges on production equipment and bulldings. Production and cost data for the first two years of operations are: Required: 1. Using varlable costing. what is the unit product cost for both years? 2. What is the varlable costing net operating income in Year 1 and in Year 2 ? 3. Reconcile the absorptlon costing and the varlable costing net operating income figures for each year. Complete this question by entering your answers in the tabs below. Using variable costing, what is the unit product cost for both years? What is the variable costing net operating income in Year 1 and in Year 2 ? (Loss amounts should be indicated with a minus sign.) Reconcile the absorption costing and the variable costing net operating income figures for each year: \begin{tabular}{|l|c|c|} \hline \multicolumn{2}{|c|}{ Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes } \\ \hline Variable costing net operating income (loss) & Year 1 & Year 2 \\ \hline \\ \hline Absorption costing net operating income \\ \hline & & Required 2 \\ \hline \end{tabular} The company's $34 unit product cost is computed as follows: Forty percent of fixed manufacturing overhead consists of wages and salarles; the remainder conslsts of depreclation charges on production equipment and bulldings. Production and cost data for the first two years of operations are: Required: 1. Using varlable costing. what is the unit product cost for both years? 2. What is the varlable costing net operating income in Year 1 and in Year 2 ? 3. Reconcile the absorptlon costing and the varlable costing net operating income figures for each year. Complete this question by entering your answers in the tabs below. Using variable costing, what is the unit product cost for both years? What is the variable costing net operating income in Year 1 and in Year 2 ? (Loss amounts should be indicated with a minus sign.) Reconcile the absorption costing and the variable costing net operating income figures for each year: \begin{tabular}{|l|c|c|} \hline \multicolumn{2}{|c|}{ Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes } \\ \hline Variable costing net operating income (loss) & Year 1 & Year 2 \\ \hline \\ \hline Absorption costing net operating income \\ \hline & & Required 2 \\ \hline \end{tabular}