Check my work Lynch Company manufactures and sells a single product. The following costs operations: were incurred during the company's first year of Variable costs per unit: 10 points Manufacturing: Direct materials 13 Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: eBook Fixed manufacturing overhead Pixed selling and administrative expenses $288,000 $198,000 Print References During the year, the company produced 24,000 units and sold 20,000 units. The selling price of the compan's product is $48 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 this question by entering your answers in the tabs below