Maga Company,which has only one product,has provided the following data concerning its most recent month of operations: 
Required:
a.What is the unit product cost for the month under variable costing?
b.What is the unit product cost for the month under absorption costing?
c.Prepare a contribution format income statement for the month using variable costing.
d.Prepare an income statement for the month using absorption costing.
e.Reconcile the variable costing and absorption costing net operating incomes for the month.
Definitions:
Information Processing Bias
A cognitive bias that affects the way individuals perceive, interpret, and remember information.
Negative Information
Information that is unfavorable or detrimental, which can significantly influence perceptions, decisions, and behaviors.
Calories
Units of energy used to quantify the amount of energy provided by food and drinks, and the amount of energy expended through activities.
Cognitive Abilities
The mental capacities to learn, think, reason, solve problems, and adapt to new situations.
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