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I'm not sure why this is not right and letting me complete the questions. I am sure I am missing something. Please help, thank you
I'm not sure why this is not right and letting me complete the questions. I am sure I am missing something. Please help, thank you
Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: During the year, the company produced 34,000 units and sold 16,000 units. The selling price of the company's product is $54 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume that the company uses variable costingStep by Step Solution
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