Whitman Company has just completed its first year of operations. The company's absorptlon costling income statement for the year follows: ine company selling and administrative expenses consist or $210.000 per vear in fixed expenses and $2 pec unit sold in variable expenses. The $16 unit product cost given above is computed as follows: nequired: 1. Redo the companys income statement in the contribution format using variable costing. 2. Reconcile any difference between the net operating incone on your vartable costing income statement and the net operating income on the absorption costing income statement above. Complete this question by entering your answers in the rabs below