Lynch Company manufactures and sells a single product. The following costs vete incured durng the combanys hna vear of operations: During the year, the company produced 32.000 units and sold 17,000 units. The selling price of the companys product s5: 55 ? 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. 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. Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost. b. Prepare an income statement for the yeat. 2. Assume that the company uses variable costing a. Compute the unit product cost. b. Prepare an income statement for the year. Cormplete this question by entering your answers in the tabs belem. Prepare an income statement for the year. Assume that the company uses aburption costhin: 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 belowe. Compute the unit product cost. Assume that the company uses variable conting Prepare an income statement for the year. Assume that the company whes y sriablin costing Lynch Company manufactures and sells a single product. The following costs vete incured durng the combanys hna vear of operations: During the year, the company produced 32.000 units and sold 17,000 units. The selling price of the companys product s5: 55 ? 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. 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. Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost. b. Prepare an income statement for the yeat. 2. Assume that the company uses variable costing a. Compute the unit product cost. b. Prepare an income statement for the year. Cormplete this question by entering your answers in the tabs belem. Prepare an income statement for the year. Assume that the company uses aburption costhin: 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 belowe. Compute the unit product cost. Assume that the company uses variable conting Prepare an income statement for the year. Assume that the company whes y sriablin costing