Is it possible to get the answers to these two questions by tomorrow morning?

Fletcher Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: Variable costs per unit: Manufacturing: Direct materials $ 24 Direct labor $ 12 Variable manufacturing overhead $3 Variable selling and administrative $2 Fixed costs per year: Fixed manufacturing overhead $ 240,000 Fixed selling and administrative expenses $ 90,000 During its first year of operations, Fletcher 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 $53 per unit. 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. (Round your answers to 2 decimal places.) 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 and year 2. Maxwell 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 materials $ 14 Direct labor $3 Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead $ 290,000 Fixed selling and administrative expenses $1 $1 $ 200,000 During the year, the company produced 29,000 units and sold 22,000 units. The selling price of the company's product is $42 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. 3. The company's controller believes that the company should have set last year's selling price at $43 instead of $42 per unit. She estimates the company could have sold 21,000 units at a price of $43 per unit, thereby increasing the company's gross margin by $7,000 and its net operating income by $8,000. a. Do you think the absorption costing approach is the proper way to assess the merits of the proposed price increase? Yes No b. Do you think the variable costing approach is the proper way to assess the merits of the proposed price increase? Yes No c. Using the variable costing approach, by how much will profits increase or decrease if the price