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 $6

Direct labor $9

Variable manufacturing $3 overhead

Variable selling and $4 administrative

Fixed costs per year:

Fixed manufacturing overhead $300,000 Fixed selling and administrative $190,000

During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit.

THIS IS 1 TO 9 QUESTIONS PLEASE HELP ME WITH THIS

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 $6 $9 Direct labor $3 Variable manufacturing overhead Variable selling and administrative $4 Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative $300,000 $190,000 During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit. Question 1 Not complete Marked out of 1.00 P Flag question 1A. Assume that the company uses absorption costing, compute the unit product cost. Answer: Check Question 2 Not yet answered Marked out of 1.00 Flag question 1B. Assume that the copany uses absorption costing, prepare an income statement for the year. Question 3 Not complete Marked out of 1.00 P Flag question Sales Answer: Check Question 4 Not complete Marked out of 1.00 P Flag question Cost of Goods Sold Answer: Check Question 5 Not complete Marked out of 1.00 P Flag question Net Operating Income Answer: Check Question 6 Not complete Marked out of 1.00 P Flag question 2A. Assume that the company uses variable costing, compute the unit product cost. Answer: Check Question 7 Not yet answered Marked out of 1.00 P Flag question 2B. Assume that the company uses variable costing, prepare an income statement for the year. Question 8 Not complete Marked out of 1.00 P Flag question Contribution margin Answer: Check Question 9 Not complete Marked out of 1.00 Flag question Net Operating Income Answer: Check