Check my work 1 Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: 5 points Variable costs per unit Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year Pixed manufacturing overhead Fixed selling and administrative expenses $ $ $ $ 27 14 3 2 eBook Hint $400,000 $ 50,000 Ask Print 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 $52 per unit. References 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 between variable costing and absorption costing net operating income in Year 1. Che . 1 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. ints Complete this question by entering your answers in the tabs below. eBook Hint Reg 1A _Reg 1B Reg 2A Reg 2B Reg 3 Ask Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2. Print References Year 1 Year 2 Unit product cost $ 44 $ 44 K Reg 1A Req 1B 1 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. 5 points Complete this question by entering your answers in the tabs below. eBook Hint Req 1A Reg 1B Reg 2A Req 2B Reg 3 Ask Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. Print References Walsh Company Income Statement Year 1 Year 2 Sales Variable expenses Variable cost of goods sold Variable selling and administrative 1,760,000 0 Total variable expenses Contribution margin Fixed expenses: 1,760,000 (1.760,000) 0 Check my worl 1 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. 5 points Complete this question by entering your answers in the tabs below. eBook Hint Reg 1A Reg 1B Reg 2A Reg 28 Req3 Ask Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2. (Round your answer to 2 decimal places.) Print References Year 1 Year 2 Unit product cost points Complete this question by entering your answers in the tabs below. eBook Hint Reg 1A Reg 1B Reg 2A Rep 28 Reg 3 Ask Print Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. (Round your intermediate calculations to 2 decimal places.) References Walsh Company Income Statement Year 1 Year 2 $ 0 $ 0 Net operating income (loss) 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. 5 points Complete this question by entering your answers in the tabs below. eBook Hint Req1A Reg 1B Reg 2A Reg 28 Req3 Ask Print Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses or deductions as a negative value.) References Year 1 Year 2 Variable costing net operating income (loss) Absorption costing net operating income (loss)