The EG Company produces and sells single product. The following data refer to the year just completed:

Beginning inventory		0
Units produced		28,600
Units sold		27,300
Selling price per unit	$	495
Selling and administrative expenses:
Variable per unit	$	23
Fixed (total)	$	382,200
Manufacturing costs:
Direct materials cost per unit	$	279
Direct labor cost per unit	$	52
Variable manufacturing overhead cost per unit	$	36
Fixed manufacturing overhead (total)	$	629,200

Assume that direct labor is a variable cost.

Required:

a.

Compute the cost of a single unit of product under both the absorption costing and variable costing approaches. (Omit the "$" sign in your response.)

b.

Prepare an income statement for the year using absorption costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

c.

Prepare a contribution format income statement for the year using variable costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

d.	Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. (Omit the "$" sign in your response.)