Help Save&Exit Submit 3 Check my work Walsh Company manufactures and sells one product. The following information pertains to each of the compa operations: ny's first two years of Variable costs per unit 10 points Manufacturing: Direct material 27 17 Direct labor Variable manufacturing overhead Variable selling and administrative eBook Fixed costs per year Fixed manufacturing overhead Fixed selling and administrative expenses 320,000 s70,000 Print 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 $89 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. Complete this question by entering your answers in the tabs below Req 1A Req 18 Req 2A Req 2B Reg 3 3 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. 10 points eBook Print References Complete this question by entering your answers in the tabs below Req 1A Req 18 Req 2A Req 28 Rea 3 Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2 Year 2 Unit product cost Req 18 > Chec 3 Req 1A Req 18 Req 2A Req 28 Req 3 Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. 10 points Walsh Company Income Statement eBook Print References Year 1 Year 2 Net operating income (loss) Req 1A Check my wo 3 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 10 points eBook Print References Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 28 Req 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 Req 20 ) Req 18 Reconcile the difference between variable costing and absorption costing net operating income in Year 1. 10 points Complete this question by entering your answers in the tabs below eBook Print References Req 1A Req 18 Req 2A Req 2B Req 3 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 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Req 2A Req 3 ) Check my w 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating income in Year t 10 points Complete this question by entering your answers in the tabs below eBook Print References Req 1A Req 18 Req 2A Req 28 Req 3 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 Variable costing net operating income (loss) Add: Fixed manufacturing overhead cost released from inventory under absorption costing Deduct: Fixed manufacturing overhead cost reloased from inventory under absorption costing Absorption costing net operating income (loss)