13. Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: ring the year, the company produced 25,000 units and sold 20,000 units. The selling price of company's product is $50 per unit. 1. Assume that the company uses absorption costing: - a. Compute the unit product cost. - b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: - a. Compute the unit product cost. - b. Prepare an income statement for the year