Exercise 6-6 i Saved Help S. 1 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: 10 Variable costs Manufacturing: r unit points Direct materials 11 Direct labor eBook Variable manufacturing overhead Variable selling and administrative Fixed costs per year: S Hint 260.000 Print selling a: ative References During the year, the company produced 35,000 units and sold 25,000 units. The selling price of the company's product is $46 per unit. Required: 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. 10 points 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. eBook Hint Print References Complete this question by entering your answers in the tabs below. Req 1A Req 1B Rea 2A Reg 2B Compute the unit product cost. Assume that the company uses absorption costing. Unit product cost Req 1B Req 1A Required: 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. 10 points eBook Hint Complete this question by entering your answers in the tabs below. Print References Req 1A Req 1B Req 2A Req 2B Prepare an income statement for the year. Assume that the company uses absorption costing. Lynch Company Absorption Costing Income Statement Req 1A Req 2A 1C 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. points eBook Hint Print References Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2A Req 2B Compute the unit product cost. Assume that the company uses variable costing Unit product cost Req 1B Req 2B Complete this question by entering your answers in the tabs below. nts Req 1A Req 1B Req 2A Req 2B ook Prepare an income statement for the year. Assume that the company uses variable costing Hint Lynch Company Print Variable Costing Income Statement eferences KReq 2A Req 2B