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Problem 6-22 (Algo) Variable Costing Income Statements; Income Reconciliation (LO6-1, LO6-2, LO6-3) 11 4 2 Denton Company manufactures and sells a single product. Cost data for the product are given Variable costs per unit: Direct materials $.4 Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit $ 21 Fixed costs per month Fixed manufacturing overhead $ 150,000 Fixed selling and administrative 172 , Total fixed cost per month $ 322,eee The product sells for $47 per unit. Production and sales data for July and August, the first two months of operations, follow. Units Produced Units sold July 30,000 25 , August 34,00 The company's Accounting Department has prepared the following absorption costing income statements for July and August July August Sales $ 1,222,000 $1,598,000 Cost of goods sold 624.ee 816,000 Gross margin 598,000 782,000 Selling and administrative expenses 224.ee 240.000 Net operating income $ 374,000 $ 542,000 Required: 1. Determine the unit product cost under a. Absorption costing b. Variable costing 2. Prepare variable costing income statements for July and August 3. Reconcile the variable costing and absorption costing net operating incomes Required: 1. Determine the unit product cost under: a. Absorption costing b. Variable costing 2. Prepare variable costing income statements for July and August. 3. Reconcile the variable costing and absorption costing net operating incomes. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare variable costing income statements for July and August Denton Company Variable Costing Income Statement July Sales $ 1.222,000 $ Variable expenses: Variable cost of goods sold August 1,598,000 0 0 1.222.000 1,598,000 0 Net operating income (loss) 0 $ 1.222.000 5 1,598,000 Prey 1 of 2 Next > Units Sold July August Produced 30, eee 30, eee 26, eee 34, eee The company's Accounting Department has prepared the following absorption costing in Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income 43 July $ 1,222,000 624,888 598,000 224, eee $ 374,000 August $ 1,598,000 816,000 782,800 24 , $ 542,eee Required: 1. Determine the unit product cost under a. Absorption costing. b. Variable costing. 2. Prepare variable costing income statements for July and August 3. Reconcile the variable costing and absorption costing net operating incomes. es Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine the unit product cost under: (a) Absorption costing, (b) Variable costing. Unit Product Cost s 24 a. Absorption costing b. Variable costing $ 19 (Required Required 2 >