Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: 15 Variable costs per unit points Manufacturing: Direct materials S 11 Direct labor Variable manufacturing overhead S Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead 5 264, Bee Fixed selling and administrative $ 174, Bee During the year, the company produced 22.000 units and solid 18,000 units. The selling price of the company's product is $45 per unit Hin 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 Print a. Compine the unit product cost b. Prepare an income statement for the year References Complete this question by entering your answers in the tabs below. Reg 14 Reg 15 Reg 24 Reg 28 Compute the unit product coat. Assume that the company uses absorption costing