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 Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative $ $ $ $352,000 $ 262,000 During the year, the company produced 32,000 units and sold 27.000 units. The selling price of the company's product is $56 per 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: 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. Roy LA R 10 Rad 2A Ruu 20 Compute the unit product cost. Assume that the company user absorption costing Unit product cost