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I need help with this question! Lyons Company manufactures and sells one product. The following information pertains to the company's first year of operations: $

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I need help with this question!

Lyons Company manufactures and sells one product. The following information pertains to the company's first year of operations: $ 10.00 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 457,500 $ 425,000 $ 112,500 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Lyons produced 61,000 units and sold 55,000 units. The selling price of the company's product is $32 per unit. Required: 1. Assume the company uses super-variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $7.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Reconcile the difference between the super-variable costing and variable costing net operating incomes. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Req 2A Reg 2B Req3 Compute the unit product cost for the year. Assume the company uses super-variable costing. (Round your answer to 2 decimal places.) Unit product cost Reg 1A Reg 1B Reg 2A Reg 2B Req3 Prepare an income statement for the year. Assume the company uses super-variable costing. Lyons Company Super-Variable Costing Income Statement Fixed expenses: Req 1A Reg 1B Req 2A Reg 2B Req3 Compute the unit product cost for the year. Assume the company uses a variable costing system that assigns $7.50 of direct labor cost to each unit produced. (Round your answer to 2 decimal places.) Unit product cost Reg 1A Reg 1B Reg 2A Reg 2B Req3 Prepare an income statement for the year. Assume the company uses a variable costing system that assigns $7.50 of direct labor cost to each unit produced. (Round your intermediate calculations to 2 decimal places.) Lyons Company Variable Costing Income Statement Fixed expenses: Reg 1A Req 1B Req 2A Req 2B Req3 Reconcile the difference between the super-variable costing and variable costing net operating incomes. Super-variable costing net operating income (loss) Variable costing net operating income (loss)

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