HW03 Chap 6 ) Saved Help Save & Exit Submit Check my work 1 Required information [The following information applies to the questions displayed below.] Part 1 of 2 Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 1 points 18 Inventories Beginning (units) Ending (units) Variable costing net operating income 200 150 $290,000 150 190 $279,000 190 20 $260,000 eBook Hint The company's fixed manufacturing overhead per unit was constant at $550 for all three years. Print References gin Required: 1. Calculate each year's absorption costing net operating income. (Enter any losses or deductions as a negative value.) din rred ser Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Year 1 Year 2 Year 3 Variable costing net operating income $ 290,000 $ 279,000 $ 260,000 Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing Absorption costing net operating income Hurin erhe Me Graw 1 Prev CD 2 of 5 Next > HWO3 Chap 6 Saved Help Save & 2 Part 2 of 2 Required information [The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 150 Ending (unita) 150 Variable costing net operating income $290,000 $279,000 $260,000 1 points 200 190 220 190 eBook The company's fixed manufacturing overhead per unit was constant at $550 for all three years. Hint Print 2. Assume in Year 4 that the company's variable costing net operating income was $260,000 and its absorption costing net operating income was $300,000 a. Did inventories increase or decrease during Year 4? References Increase Decrease b. How much fixed manufacturing overhead cost was deferred or released from inventory during Yeard? Fixed manufacturing overhead cost inventory during Year 4 Mc Gew