The Dorset Corporation produces and sells a single product. The following data refer to the year just completed: 0 25,300 20,700 422 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenseh. Variable per unit Fixed per year Manufacturing costs: Direct materials coat per unit Direct labor cost per unit Variable manufacturing overhead cont per unit Fixed manufacturing overhead per year $ 15 $393,300 $ 249 $ 53 $ 36 $354,200 let po 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. pal