Lynch 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 $$12$

Direct labor $$3$

Variable manufacturing overhead $$1$

Variable selling and administrative $$1$

Fixed costs per year:

Fixed manufacturing overhead $$324,000$

Fixed selling and administrative $$234,000$

During the year, the company produced $27,000$ units and sold $23,000$ units. The selling price of the company's product is $$42$ per unit.

Required:

Assume that the company uses absorption costing:

a$.$ Compute the unit product cost.

b$.$ Prepare an income statement for the year.

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 $1$B

Prepare an income statement for the year. Assume that the company uses variable costing

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$,]]$

i just need part $2$b answered