Chapter 6 Homeworki Saved 1 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: 10 Variable costs per unit: Manufacturing: Direct materia points als Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative 2 eBook $250,e00 $160,eee Hint During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $47 per unit. Print 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. References Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Compute the unit product cost. Assume that the company uses absorption costing. Unit product cost Rea 18 Rea 14 l Chapter 6 Homework Saved 1 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: 10 Variable costs per unit: points Manufacturing: Direct materials 14 Direct labor Variable manufacturing overhead Var Fixed costs ne dministrative Fixed manufacturing overhead Fixed selling and administrative eBook $250,000 $160,000 Hint During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $47 per unit. Print 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. References Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Req 2A Req 2B Compute the unit product cost. Assume that the company uses variable costing Unit product cost Chapter 6 Homework Saved Help 1 2 Assume that the comp uses variable costing: t .Compute the unit pro . Prepare an income statement for the year. 0 Complete this question by entering your answers in the tabs below. oints Rea 1A Req 1B Req 2A Req 2B eBook Prepare an income statement for the year. Assume that the company uses variable costing Lynch Company Hint Variable Costing Income Statement Print References