Whitman Company has jus completed its fest year of operatians. The company's sbsorpton costig income statement for the year The company's seling and administtative expeoses consat of $307500 pec year in fied erpenses ond $5 per anit sold in variable espenses. The 525 uni product cost giren bbove is computed as follows Nequired: inconte on the abigeneden costing income waternent above Complete this guestion tov entering rour answers in the latss betow. Redo the company's income statement in the contribution format using variable costing. e company's selling and administrative expenses consist of $307,500 per year in fixed expenses and $5 per unit sold in variable penses. The $25 unit product cost given above is computed as follows. equired: Redo the company's income statement in the contribution format using voriable costing: Reconcile any difference between the net operating income on your varlable costing income statement and the net operating ncome on the absorption costing income statement above Complete this question by entering your answers in the tabs below. Reconcile any difference between the net operating income on your variable costing income statement and the net operating Income on the absorption costing income statement above. (Fnter any losses or deductions as a negative value.)