Please answer both. Thank you!

Question 29 6 pts Castaway Company reports the following first year production cost information: Units produced 53,000 units Units sold 51,000 units Sales price $150 per unit Direct labor $8 per unit Direct materials $4 per unit Variable overhead $41 per unit Fixed overhead $3,339,000 in total Operating expenses $1,000,000 in total 1. Determine the net income using variable costing. 2. Determine the net income using absorption costing. HTML Editor Question 30 5 pts Wrap-It Company, a manufacturer of wrapping paper, began operations on June 1 of the current year. During this time, the company produced 370,000 units and sold 310,000 units at a sales price of $50 per unit. Cost information for this period is! shown in the following table: Production costs Direct materials $2.00 per unit Direct labor $.80 per unit Variable overhead $814,000 in total Fixed overhead $481,000 in total Non production costs Variable selling and administrative $78,000 in total Fixed selling and administrative $210,000 in total 1. Prepare Wran-It's December 31st income statement for the P2.00 Per Uill Direct labor $.80 per unit Variable overhead $814,000 in total Fixed overhead $481,000 in total Non production costs Variable selling and administrative $78,000 in total Fixed selling and administrative $210,000 in total 1. Prepare Wrap-It's December 31st income statement for the current year under absorption costing. 2. Prepare Wrap-It's December 31st income statement for the current year under variable costing. B HTML Editor I VA - A - IX E 3 3 x > DO N V AC Vol 125