amework Swed Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: Variable 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 $ $ $ $ 22 13 4 3 $320,000 $ 20,00 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 $59 per unit Required: 1. Assume the company uses variable costing a. Compute 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 betweeri variable costing and absorption costing net operating income in Year 1 Complete this question by entering your answers in the tabs below. speech do to search O DELL FS 12 $ @ 2 3 % 5 8 7 B 0 Q W E R T Y U 1 0 P A S D F G H J K L speech 4door to search BE O i DELL F2 F3 F5 F6 F7 M FVO F1 FN2 ! 1 % 2 3 $ 4 5 & 7 6 8 9 Q W E R T Y C 0 s D F G H 2 N X C V B N M nework Saved Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. Walsh Company Income Statement Year 1 Year 2 Net operating income oss) speech 4 day search O DELL 12 F3 FS FG F7 FO F10 112. ! 9 @ 2 1 3 & 7 4 5 6 8 9 0 Q W E R T > 0 A S D F G H J L 3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1. Complete this question by entering your answers in the tabs below. Req 1A Req 10 Reg 2A Reg 26 Reg 3 Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2. (Round your answer to 2 decimal places.) Year 1 Year 2 Unit product cost Speech 4.doc e to search O DELL FE F4 FO FIO F1 1 2 3 % 5 8 7 6 8 9 0 Q W E R T Y C o A s D F G H J K N X C V B N M sucation.com/ext/map/index.html?_con=contexternal browser&launchurahttp%253A%252F%252Fucmo blackboard.com/252Fw ework Saved 1. Assume the company uses variable costing: a. Compute 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 variable costing and absorption costing net operating income in Year 1 Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 Reg 2A Reg 20 Reg 3 Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. (Round your intermediate calculations to 2 decimal places.) Walsh Company Income Statement Year 1 Year 2 Net operating income foss) spechdocx earch O DELL F2 FS PO FO VVO EN 12. P ! $ 8 7 7 2 3 4 5 6 8 o C Q w E R T Y 1 0 TI 4 D s I G rowser 252F%252Fuomo blackboard.com/252Fwebapp252Fportal mework Seved L. Pietele samedi 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 variable costing and absorption costing net operating income in Year 1. Complete this question by entering your answers in the tabs below. Reg 1A Req10 Reg 2 Reg 20 Req Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses or deductions as a negative value.) Year 1 Year 2 Variable costing net operating income foss) Absorption costing net operating income (oss) sich doc search o DELL F FS F90 2 3 % 5 4 & 7 0 8 9 o Q W E R T Y U O S D F G H J L