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

Beginning inventory

0

Units produced

25,200

Units sold

23,600

Selling price per unit

$

428

Selling and administrative expenses:

Variable per unit

$

16

Fixed (total)

$

401,200

Manufacturing costs:

Direct materials cost per unit

$

281

Direct labor cost per unit

$

53

Variable manufacturing overhead cost per unit

$

40

Fixed manufacturing overhead (total)

$

378,000

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.)

	Cost per unit
Absorption costing	$
Variable costing	$

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.)