The Dorset Cotporation produces and sehs a single prodict. The following data refer to the year just combieted: Assume that direct labor is a varlable cost. Required: Compute the unit product cost under both the absarption costing and yariable costing approaches. Prepare an inceme statement for the year using absorption costing. Prepare an income statement for the year using variable costing. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. Complete this question by entering your answers in the tabs below. Assume that direct labor is a wariable cost. Required: a. Compute the unif product cost under both the absorption costing and vatiable costing approaches, b. Prepare an income statement for the year using absorption costing. c. Prepare an income stotement for the year using variable costing. d. Reconcie the absorption costing and variable costing net operating income figures in (b) and (c) above. Complete this question by entering your answers in the tabs below. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. Pepare an income statement for the year using variable costing- Assume that ditect labar is a variable cost: Required: a. Compute the unit product cost under both the absorption costing and wariable costing apgrosec b. Prepare an inconte 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 Complete this question by entering your answers in the tabs below. Prepare an income statement for the yoar using absorption costing. Assume that divect labor is a variable cost. Required: a. Compute the unit ptoduct 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) at Complete this question by entering your answers in the tabs below. Compole the unt product cost under both the-absorption costing and variable costing appraaches