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 Diret materiale Direct Labor Variable manufacturing the Variable in antive Yiwed costs per year Tixed manufacturin verhead Fixed selling and administrative . 20.000 0150,000 int During the year, the company produced 31,000 units and sold 21,000 units. The selling price of the company's product is 544 per unit 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. Reg. IA Reg 13 Reg 2A He 28 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. Reg 1A Reg 1B Reg 2A Req 2B Compute the unit product cost. Assume that the company uses absorption costing. Unit product cost Req 18> During the year, the company produced 31,000 units and sold 21,000 units. The selling price of the company's product is $44 per unit. 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. ook Tint Fences Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Req 2A Reg 28 Prepare an income statement for the year. Assume that the company uses absorption costing Lynch Company Absorption Costing Income Statement 5 cota per years Fixed manufacturing overhead Fixed selling and administrative $248,000 $150,000 nts During the year, the company produced 31,000 units and sold 21,000 units. The selling price of the company's product is $44 per unit. 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. dock Hint rences Complete this question by entering your answers in the tabs below. Reg 1A Red 18 Reg 2A Reg 28 Compute the unit product cost. Assume that the company uses variable costing Unit product cast (Reg 1B Req 28 > ter Graded Homework Help Save Eat Submit 5 Reg 1A Reg 18 Reg 2A Reg 28 Prepare an income statement for the year. Assume that the company uses variable costing Lynch Company Variable Costing Income Statement DOW ant oncel
