Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 17 produced 40,000 units and sold 50,000 units. The selling price of the company's product is $86 per unit. 1 points 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. & Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 2A Req 2B Reg 3 Assume the company uses variable costing, Compute the unit product cost for year 1 and year 2. Year 1 Year 2 Unit product cost 44S 44 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 17 1 points 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2A Reg 2B Reg 3 Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2. (Round your intermediate calculations and final answers to 2 decimal places.) Year 1 Year 2 Unit product cost 50.40S 52.00 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 17 Exercise 7-9 Variable and Absorption Costing Unit Product Costs and Income Statements [LO7-1, LO7-2, LO7-3] 1 points 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 S s S S 27 13 4 3 $320,000 $ 70,000 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 $86 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 between variable costing and absorption costing net operating income in Year 1. Answer is not complete. Camnlata thic nuastinn hu antarinn vnur anchors in the taha holnar Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 17 Req 1A Reg 1B Req 2A Req 2B Reg 3 Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. 1 points Walsh Company Income Statement Year 1 Year 2 Sales Variable expenses: Total variable expenses 0 0 0 0 Contribution margin Fixed expenses: Total fixed expenses 0 0 Net operating income (loss) $ 0 $ 0 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 17 3. Reconcile te ullerence between variable cosury aniu ausurpuon Cosury nel Operating income il rear 1. Answer is not complete. 1 points Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B Req3 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 (loss) 0 0 Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 17 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. 1 points Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 28 Reg 3 Year 1. (Enter any losses or Reconcile the difference between variable costing and absorption costing net operating income deductions as a negative value. Round your intermediate calculations to 2 decimal places.) Year 1 Year 2 Variable costing net operating income (loss) Absorption costing net operating income (loss)
