I need answers for both 1 and 2

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit Manufacturing: Direct materialks $6 $9 $3 $4 Variable manufacturing overhead Varlable selling and administrative ...p.... Fixed costs per year: Flixed manutacturing $300,000 $190,000 overhead During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit. 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