Time hour, 28 minutes, 24 seconds Quin Completion Status Nabi Fun LLC manufactures a tablet in Los Angeles, USA that is sold for $1.000 per unit in two markets; the USA and China. The company's fiscal 2017 operations data were as follow Sales 35,000 units Production 40,000 units Manufacturing Cost per unit: Direct Materials $ 150 Direct Labor $ 100 Variable Manufacturing Overhead $ 20 Fixed manufacturing Overhead $ 8,000,000 Seling and Administrative Expenses Feed for the year $ 4.000.000 Variable expenses per unit $ 30 Required: 1) Under Variable Costing a) What is the unit product cool? (4 marks] b) What is the fiscal 2017 net operating incomo? [16 marks] 2) Under absorption couting a) What is the unit product cost? 5 marks] b) What is the fiscal 2016 net operating income? [10 marks] 3) What is the amount of the difference between the variable costing and absorption costing net operating Incomea? Explain the cause of this difference? 5 marks] TTTA tan 335 SO bu DO Click Submit to complete this assessment. uestion 1 Anglo American Corporation information for 2018 is as follow, Sales price per unit: 590 Units produced: 100,000 Units sold: 70,000 Direct labor cost per unit: $16 Direct material cost per unit: $25 Variable Manufacturing overhead per unit 512 Variable Selling and Admin cost per unit $10 Fixed Manufacturing overhead: $340,000 Fixed Selling and Admin cost: $260,000 Required (round till 2 decimal if needed): Show all calculations 1. Calculate the unit product cost under variable costing method 2. Calculate the unit product cost under absorption costing method. 3. Prepare the variable costing Income statement. 4. Prepare the absorption costing income statement. 5. Reconcile the net operating income (loss) under the variable costing method with the net operating income (loss) under the absorption costing method Answer: Copy control and paste (control) the below tables in your answers, and use this to answer the questions. Show all workings and round off to 2 decimals (eg 205) 1 and 2 VARIABLE ABSORPTION