coperations Dunng the your, the company produced 28,000 unts and sold 24,000 urts The seling pnce of the companyts product is 541 per unit Recutred: 1 Assume the company ures abcorption costung a. Compuse the unt product cod b Prepore an income statemont for the year. 2 Assume the company uses vanable cocting a. Compute the unit protuct cost b. Propse an income statement for die year. Conshlete this quastion by entering your answers in the tahs beluw. Lynch Company manufactures and seltit a single product. The following corts wore incurred auning the comparny first year of operation: During the year, the company produced 28,000 unitt and sold 24.000 units. The seling price of the companytr product is $41 per unit. Required: 1. Assume the company uses absorpton costing a. Compute the unit product cort b. Prepare an income statoment for the year. 2. Assume 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. Compute the init product cost. Assume the company utes variable conting Lynch Conperty manifictures and sols a single product The following costs wore incurred during the compary 5 finst yoar of operatione: Prequired: 1. Aswume the company uses abiorpton costing A. Compute the unt product cost b. Prepare an income stitement for re your 2. Ascume the compony used vactatile cocting a. Compute the unit product cott b. Prepve an income rteement for the year Complete thin question by entrning vour answers in the talus below, cperabars Durng the year, the company produced 23000 unts and sold 24,000 units the seling price of the company's product is 541 per unt. Recuited: 1. Astume the company utes absoption coteng a Compute the unt product coct b. Prepare an income statement for the year. 2 Assume the company uies vartable costing a. Compuse the una product cost b. Prepare an income statement for the your