a Course Hero X 6 Question 7 - Chapter 6 Horn: 6 C' 0 ezto.mheducationtcom l, , ,i 7 Vi , i Vi 17 Apps ,/ Web Slice Gallery E imported From lE e Kronos WORKFOR... 6 Renaissance Place 6 Student Informati... Reading List Chapter 6 Homework 0 Saved Help Save & Exlt Submit ; Lynch Company manufactures and sells a single product. The following costs were incurred during the company's rst year of operations: Variable costs per unit: Manufacturing: Direct: materials Direct: labor Variable manufacturing overhead eBook Variable selling and administrative Fixed costs per year: Hint Fixed manufacturing overhead $350,000 Fixed selling and administrative $260,000 0.9 points mun/Ha NNUIi-i Print | References During the year, the company produced 35,000 units and sold 25,000 units. The selling price of the company's product is $46 per unit. Required: 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 Complete thls questlon by enterlng your answers In the tabs below. ReqlA ' ReqlB H RquA ' RquB ' Compute the unit product cost. Assume that the company uses absorption costing. :l g ( Huey 7 of 11 Next >