Check my work Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: 20 points eBook Variable costs per units Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per years Fixed manufacturing overhead Fixed selling and administrative expenses Hint Punt $240,000 $100,000 References 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 $85 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. tlon Complete this question by entering your answers in the tabs below. etme 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 op Year 1. Fook Hint rint Complete this question by entering your answers in the tabs below. rences Req 1A Req 1B Req 2A Req 2B Req3 Assume the company uses variable costing. Compute the unit product cost for year 1 a Year 1 Year 2 Unit product cost Rea 1 Req 1B > HW Chpt 7 Inbox (585) - zakiahmed991@gmail.com t7 @ Saved Help Save & Exit Su Check my we LUIT PILLE LIIS USLOM Uy rering your answers in the tabs perw Req 1A Reg 1B Req 2A Req 2B Req3 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 (loss) Che 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 i Year 1. 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. Compute the unit product cost for Year 1 and Yea calculations and final answers to 2 decimal places.) Year 1 Year 2 Unit product cost 3. Reconcile the difference between variable costing and absorption costing net operatin Year 1. 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 Y calculations to 2 decimal places.) ces Walsh Company Income Statement Year 1 Year 2 Req 1A Req 1B Req 2A Req 2B Req3 Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses or 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 not operating income (loss)
