WTH is that expert's comment? seriously posting ads?

Exercises 18-45 (Algo) Full vs. Variable Costing [LO 18-3, 18-4] Security Technology Incorporated (STI) is a manufacturer of an electronic control system used in the manufacture of certain special duty auto transmissions used primarily for police and military applications. The part sells for $40 per unit and STI had sales of 24,550 units in the current year, 2021. STI had no inventory on hand at the beginning of 2021 and is projecting sales of 27,650 units in 2022. STI is planning the same production level for 2022 as in 2021, 26,100 units. The variable manufacturing costs for STI are $11, and the variable selling costs are only $0.90 per unit. The fixed manufacturing costs are $130,500 per year, and the fixed selling costs are $610. per year. Required 1 Required 2 Required 3 Prepare an income statement for each year using full costing. (Round your final answers to nearest whole dollar amount.) SECURITY TECHNOLOGY INCORPORATED Full Costing Income Statement 2021 2022 Variable 982,000 1,106,000 Less: Cost of goods sold Beginning inventory Cost of goods produced Available for sale Less Ending inventory Cost of goods sold 442,400 663,600 Gross margin Less. Selling and administrative costs Variable Fixed 25,495 Operating income 638,105 $ $ 0 417,600 417,600 24,800 22,095 610 $ Required 1 $ 392,800 589,200 22,705 566,495 $ 24,800 417,600 442,400 0 24,885 610 Required 2 $ $ $ Prepare an Income statement for each year using variable costing. (Round your final answers to nearest whole dollar amount.) SECURITY TECHNOLOGY INCORPORATED Variable Costing Income Statement 2022 Sales S 1,106,000 Less: Cost of goods sold Beginning inventory $ Cost of goods produced Available for sale Less Ending inventory Cost of goods sold Add Variable selling and administrative Contribution margin Less Fixed manufacturing costs Loss. Selling and administrative costs Fixed Operating incomo 2021 0 270,050 22,095 130,500 610 $ $ $ 982,000 292,145 689,855 558,745 304,150 24,885 130,500 610 $ $ 329,035 776,965 645,855 Required 1 Required 2 Required 3 Prepare a reconciliation of the difference each year in the operating income resulting from the full and variable costing methods. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your "Fixed overhead rate" answers to 2 decimal places, and other final answers to nearest whole dollar amount.) SECURITY TECHNOLOGY INCORPORATED Reconciling Difference in Operating Income Between Full and Variable Costing 2021 2022 Change in inventory in units (1,550) Multiply times fixed overhead rate S 5.00 $ Difference in operating income (7,750) S $