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Reconcile reported operating income under the two methods using the shortcut method. Complete this question by entering your answers in the tabs below. Prepare an operating income statement for the year using absorption costing. (Do not round intermediate calculations.) \begin{tabular}{|l|l|l|l|l|} \hline Change in inventory (in units) & Predetermined fixed overhead rate & = & Absorption-costingincomeminusvariable-costingincome \\ \hline & unit increase & & = \\ \hline \end{tabular} Req 23 Prepare an operating income statement for the year using variable costing. Calculate the product cost per sleeping bag under (a) absorption costing and (b) varlable costing. (Do not round intermediate caiculations. Round your final answers to 2 decimal places.) Great Outdoze Company manufactures sleeping bags, which sell for $66.90 each. The varlable costs of production are as follows: Budgeted fixed overhead in 20xt was $171,600 and budgeted production was 26,000 sleeping bags. The year's actual production was 26.000 units, of which 23,800 were sold. Variable selling and administrative costs were $2.00 per unit soid; fixed selling and administrative costs were $24,000. Required: 1. Colculate the product cost per sleeping bag under (a) absorption costing and (b) variable costing 2-a. Prepare an operating income statement for the ycar using absorption costing. 2-b. Prepare an operating income statement for the year using variable costing. 3. Reconcile reported operating income under the fwo methods using the shortcut method

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