Chapter 6 ALS Review Problem- Contrasting Variable and Absorption Costing Green and Grey Corporation produces and sells a single product. Selected cost and operating data relating to the product for two years are given below. . Selling price per unit. Manufacturing costs: o Variable cost per unit produced Direct materials. Direct labor. Variable manufacturing overhead. o Fixed manufacturing overhead per year. Selling and administrative expenses: o Variable per unit sold. o Fixed per year.. Unit Information Voo Beginning Inventory DM produce Year 1 Year 2 o Produced PL cose Year 1 VMOH Year 2 Sold FMOH . Year 1 perd Year 2 . Year 1 NSGA Cod Ending Inventory FSGA . Required: Year 2 a Compute the unit product cost in each year. Prepare a traditional income statement for each year. $50 $11 $6 $3 $120,000 $4 $70,000 0 2.000 10,000 6,000 8,000 8,000 2 2.000 2851 0139 Nor-Full- Units Unit Cale 2 Bi D 2,000 PM Produce 12,000 6,000 DL Sold $200 2000 3 2 E. T 2,000 0 FMOM 12 20 3x CxG5 x 400 3A% 194,000 94 VIGA 3500 12 FMOH 77 No 41,000