Whitman Company has just completed its first year of operations. The company's absorption costing income statement for the yeat follows The companys selling and odministrative experkes consist of $292,500 per year in foed expenses and $4 per unit sold in vatiobie expenses. The $23 unit product cost given above is computed os follows Required: 1 Redo the company/s income statement in the contribution format using variable costing. 2. Reconcle any difference between the net operating income on your vafiable costing income statement and the net operating income on the absorption costing income statement above Redo the company's income statement in the contribution format using variable costing. income on the absorption costing income statemient above. Complete this question by entering your answers in the tabs below. Reconcile any difference between the net operating income on your vanable costing income statement and the net operating income on the absorption costing income statement above. (Enter any losses or deductions as a negative value.)