The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: Assume that direct labor is a varlable cost. Required: a. Compute the unit product cost under both the absorption costing and varlable costing approaches. b. Prepare an income statement for the year using absorption costing. c. Prepare an Income statement for the year using varlable costing. d. Reconclle the absorption costling and varlable costing net operating Income figures in (b) and (c) above