Remaining Time: 1 hour, 27 minutes, 44 seconds. Question Completion Status: National Corporation, produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to the year 2017 of the plant's operation: $18 Variable costs per unit Manufacturing Direct Materials Direct Labour Variable manufacturing overhead Variable selling and administrative $7 $2 $2 Fixed costs per year Fixed manufacturing overheads $200,000 Fixed selling and distribution expenses $110.000 During the year company produced 20,000 units and sold 16,000 units. The selling price of the company's product is $50 per unit, Assume that company uses absorption costing. 1. Compute the unit product cost Particulars (5 Marks) Amount 2. Prepare a absorption income statement for the year. (10 Marks) Particulars Amount Click Save and Submit to an artt. Click Save to stall ansur Assume that company uses variable costing. 3. Compute the unit product cost Particulars (4 Marks) Amount 4. Prepare a contribution income statement for the year. (16 Marks) Particulars Amount Cuck Save and Submit to save and unload allonsiders 4. Prepare a contribution income statement for the year. (16 Marks) Particulars Amount Click Save and Sebined to save and sucht Senate ne sare anche 5. Reconcile the absorption costing and variable costing net operating income. (5 Marks) TT TT Paragraph Arial % DO QUE OSMashups - 16 3.(12pt] ' , E.T.A. 1 HTML 55 Click Save and Submit to save and tbmit.ch Sie danner rave all ansurers. 2. Prepare a absorption income statement for the year. (10 Marks) Particulars Amount Chok Save and Submit