Lynch Company manufactures and sells a single pro operations: Variable costs per unit Manufacturing Direct materiala $12 Direct labor Variable manufacturing overhead Variable selling and administrative Pixed costs per yeari Fixed manufacturing overhead Pixed selling and administrative $360,000 $270,000 During the year, the company produced 36,000 units and sold 18,000 units. The selling price of the company's product is $55 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. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Reg 28 Direct materials Direct labor Variable manufacturing overhead 12 Variable selling and administrative Pixed costs per year $360,000 $270,000 ring ts Fixed selling and adninistrative During the year, the company produced 36,000 units and sold 18.000 units. The selling price of the company's product is $55 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: e Book Print the unit product cost. b. Prepare an income statement for the year Complete this question by entering your answers in the tabs below Req 1A Req 18 Req 2A Req 2B Compute the unit product cost. Assume that the company uses absorption costing. Req 1B > 4) During the year, the company produced 36,000 units an d sold 18,000 units. The selling price of the company's product is $55 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 Complete this question by entering your answers in the tabs below Hint Print Req 1A Req 1B Req 2A Req 2B Prepare an income statement for the year. Assume that the company uses absorption costing Lynch Company Costing Income Sta Req 2A > C Req 1A K Prev 3 of 3 Next Check my work During the year, the company produced 36,000 units and sold 18,000 units. The selling price of the company's product is $55 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. ed Complete this question by entering your answers in the tabs below Req 1A Req 1B Req 2A Req 2B Compute the unit product cost. Assume that the company uses variable costing Req 1B Req 28> Check r Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2A Req 2B Prepare an income statement for the year. Assume that the company uses variable costing Lynch Company nt Variable Costing Income Sta ces Req 2A