The Dorset Corporation produces and sells a single product. The following data refer to the year just completed Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: 26,800 25,800 418 Variable per unit Fixed per year 18 $335,400 Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 231 52 39 $348,400 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 Required ARequired B Required CRequired D Compute the unit product cost under both the absorption co Cost Per Unit Absorption costing Variable costing Required A Required B Required C Required D Prepare an income statement for the year using absorption Absorption Costing Income Statement Required A Required B Required C Required D Prepare an income statement for the year using variable costing Variable Costing Income Statement Variable expenses: Fixed expenses: Required A Required B Required Required Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) abov Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Net operating income (loss) under variable costing Net operating income (loss) under absorption costing