252PX25cm blackboard.com 252Fw 4 Homework Sol Help Save & Exit Check my work Walsh Company manufactures and sells ane product. The following information pertains to each of the company's first two years of operations. Var Lable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses 15 5 4 $ 320,000 550,000 During its first year of operations. Walsh produced 50,000 units and sold 40,000 units. During its second year of operations. It produced 40,000 units and sold 50.000 units. The selling price of the company's product is $5 per unit. Required: 1 Assume the company uses variable costing a. Comeute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 2. Assume the company uses absorption costing a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between vanable casting and absorption costing net operating income in Year 2 of 6 1 Nead > der 4 Homework Help 5 Assume the company variable costing. Prepare an income statement for Year 1 and Year Year Sales Variable expenses Variable cost of goods sold Variable soling and administrative ok ces 0 0 0 0 Total variable expenses Contribution margin Fixed expenses Fixed manufacturing overhead Fbced selling and administrative expense 0 Totalced expenses Net operating income (loss) 0 0 s 05 a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating in Complete this question by entering your answers in the tabs below. Reg 1A Req 10 Reg 2A Reg 28 Reg 3 Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year decimal places. Year 1 Year 2 Unit product cost Req IA Reg 1B Reg 2A Reg 2B Reg 3 Assume the company uses absorption costing. Prepare an income statement for Year calculations to 2 decimal places.) Walsh Company Income Statement Year 1 Year 2 7 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (loss) $ 0 $ 0 252PX25cm blackboard.com 252Fw 4 Homework Sol Help Save & Exit Check my work Walsh Company manufactures and sells ane product. The following information pertains to each of the company's first two years of operations. Var Lable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses 15 5 4 $ 320,000 550,000 During its first year of operations. Walsh produced 50,000 units and sold 40,000 units. During its second year of operations. It produced 40,000 units and sold 50.000 units. The selling price of the company's product is $5 per unit. Required: 1 Assume the company uses variable costing a. Comeute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 2. Assume the company uses absorption costing a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between vanable casting and absorption costing net operating income in Year 2 of 6 1 Nead > der 4 Homework Help 5 Assume the company variable costing. Prepare an income statement for Year 1 and Year Year Sales Variable expenses Variable cost of goods sold Variable soling and administrative ok ces 0 0 0 0 Total variable expenses Contribution margin Fixed expenses Fixed manufacturing overhead Fbced selling and administrative expense 0 Totalced expenses Net operating income (loss) 0 0 s 05 a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating in Complete this question by entering your answers in the tabs below. Reg 1A Req 10 Reg 2A Reg 28 Reg 3 Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year decimal places. Year 1 Year 2 Unit product cost Req IA Reg 1B Reg 2A Reg 2B Reg 3 Assume the company uses absorption costing. Prepare an income statement for Year calculations to 2 decimal places.) Walsh Company Income Statement Year 1 Year 2 7 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income (loss) $ 0 $ 0