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 36,000 units and sold 18,000 units. The selling price of the company's product is $55 per un Required: 1. Assume the company uses absorption costing a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume the company uses varlable 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