Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the year follows: Whitman Company Income Statement Sales (42,000 units $41.10 per unit). $ 1,726,200 pped Cost of goods sold (42,000 units x $21 per unit) Gross margin 882,000 844,200 483,000 Selling and administrative expenses $ 361,200 The company's selling and administrative expenses consist of $315,000 per year in fixed expenses and $4 per unit sold in variable expenses. The $21 unit product cost given above is computed as follows: Net operating income Book Hint Pent eferences Direct labor Direct materials Variable manufacturing overhead Fixed manufacturing overhead ($270,000 54,000 units) Absorption costing unit product cost Required: $21 1. Redo the company's income statement in the contribution format using variable costing. 2. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Check my work 10