Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first 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

Req $2A$

Req $2$B

Prepare an income statement for the year. Assume that the company uses absorption costing. During the year, the company produced $27,000$ units and sold $23,000$ units. Ihe 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.

h Pronaro an income statement for the year.

Assessment Tool iFrame ie 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 $1$B

Req $2A$

Req $2$B

Compute the unit product cost. Assume that the company uses variable costing

Unit product cost $10$

Assume that the company uses absorption costing:

points

a$.$ Compute the unit product cost.

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

Assume that the combanv uses variable costing:

a$.$ Comp Assessment Tool iFrame t$.$

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

Complete this question by entering your answers in the tabs below.

Req $1A$

Req $1$B

Req $2A$

Req $2$B

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

Rec $28$:

year of operations:

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.

Compute the unit product cost. Assume that the company uses absorption costing.