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

Beginning inventory		0
Units produced		25,500
Units sold		22,300
Selling price per unit	$	484
Selling and administrative expenses:
Variable per unit	$	25
Fixed (total)	$	312,200
Manufacturing costs:
Direct materials cost per unit	$	237
Direct labor cost per unit	$	50
Variable manufacturing overhead cost per unit	$	31
Fixed manufacturing overhead (total)	$	357,000

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.)

Absorption Costing Income Statement
	$
	$

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.)

Variable Costing Income Statement
		$
Variable expenses:
	$
Fixed expenses:
		$

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

Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes
Net operating income under variable costing	$
:
Net operating income under absorption costing	$