Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year These data summarize the current and prior year operations ,200 units 4,800 units 6,400 units 4,800 units 5 0.60 5 2,400 0.40 5 500 variable (per unit) s e.60 5 2,400 9.40 s 5ee able dinstrative-fixed l. Prepare an income statement for each year based on full costing 2 Pepare an income statement for each year based on variable costing a racpre s reconectiation of the ditterence each year in the operating income resulting from using the full costing method and variable costing method Complete this question by entering your answers in the tabs below Required 1/ Required 2 Required Prepare an income statement for each year based on full costing Full Costing Income Statement Prior Year rent Year Less: Cost of goods sold Avalable for sale Cost of goods sold Gross margin ace Sallina Prev e statement for each year based on full costing. YALE COMPANY Full Costing Income Statement Current Year Prior Year Less. Cost of goods soled Available for sale Cost of goods sold Gross margin Less: Selling and administrative costs Operating income Requiced 1 Required 2 on of the difference each year in the operating income resulting from using HL tion by entering your answers in the tabs below. Required 2 Required 3 Prepare an income statement for each year based on variable costing 49:43 Variable Costing Income Statement Current Year Prior Year Less: Cost of goods sold Avalable for sale Cost of goods sold Contribution margin Less Selling and administrative costs Operating income Required 1 Required 3> Production cost Factory-variable (per unit) $e.60 $ 2,400 $ 0.40 $ 580 s 0.60 $ 2,400 Harketing-variable Adninistrative-fixed $ 500 Required: 1. Prepare an income statement for each year based on full costing. 2. Prepare an income statement for each year based on variable costing. 3. Prepare a reconcilation of the difference each year in the operating income resulting from using the full costing method ar variable costing method Complete this question by entering your answers in the tabs below Required 1Required 2 Required 3 Prepare a reconciliation of the difference each year in the operating income resulting from using the full costing method and variable costing method. (Negative amounts should be indicated by a minus sign, Round your "Fixed overh to 2 decimal places.) ead rate" answers YALE COMPANY Reconciling Difference in Operating Income Between Full and Variable Costing Prior Year Current Year Change in inventory in units x fixed overhead rate Difference in operating income Required 2