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Reunion Enterprises produces a video streaming device for homes. The company data for the first two years of operations follows: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per yeart Fixed manufacturing overhead Fixed selling and administrative expenses 3 5 5 $ 30 12 4 3 $400,000 $ 90,000 During its first year of operations, Reunion produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company's product is $90 per unit Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 andrYear 2 b. Prepare an income statement for Year 1 and Year 2 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1, Complete this question by entering your answers in the tabs below. aper / Saved Reunion Enterprises Income Statement Year 1 $360,000 $ Year 2 450,000 Sales Variable expenses Variable cost of goods sold Variable selling and administrative 184,000 120,000 230,000 150,000 ices 304,000 56,000 380,000 70,000 Total variable expenses Contribution margin Fixed expenses Fixed manufacturing overhead Fixed selling and administrative expenset 400,000 400,000 Total fixed expenses Net operating income (loss) 400,000 400,000 $ (344,000) $ (330,000) 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2A Reg 2B Reg 3 Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2. (Round your calculations and final answers to 2 decimal places.) Year 1 Year 2 Unit product cost $ 54.00 $ -156.00 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Reg 28 Reg 3 Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. (Round yo calculations to 2 decimal places.) Reunion Enterprises Income Statement Year 1 Year 2 Net operating income (loss) $ 0 $ 0 Complete this question by entering your answers in the tabs below. Req1A Reg 18 Req 2A Req 2B Reg 3 Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses or deductions as a negative value. Round your intermediate calculations to 2 decimal places.) Year 1 Year 2 Variable costing net operating Income (loss) Absorption costing net operating income (loss)