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Start Me Up Incorporated manufactures a caffeinated energy drink that sells for $4.30 each. The...

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Accounting

Start Me Up Incorporated manufactures a caffeinated energy drink that sells for $4.30 each. The results for its first year of operations appear in the table below:
Projections
Number of drinks produced 54,000
Number of drinks sold 47,200
Direct materials per drink $ 0.68
Direct labor per drink $ 0.38
Variable manufacturing overhead per drink $ 0.28
Total fixed manufacturing overhead $ 38,880
Total fixed selling and administrative costs $ 56,500
Required:
1. Compute the operating income for the first year under full costing.
2. Compute the operating income for the first year under variable costing.

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