Need help with these two questions on my homework.

Q#2

Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations Variable costs per unit: Manufacturing Direct materials 28 17 Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses $240,000 60,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company's product is $86 per unit. Required 1. Assume the company uses variable costing a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 2. Assume the company uses absorption costing a. Compute the unit product cost for Year 1 and Year 2 b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating income in Year1 Check my wor 2 High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation 20 points Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: 48,000 43,000 83 eBook Variable per unit Fixed (per month) Print 564,000 Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Pixed manufacturing overhead cost (per month) References 15 768,000 Management is anxious to assess the profitability of the new camp cot during the month of May Required 1. Assume that the company uses absorption costing a. Determine the unit product cost. b. Prepare an income statement for May 2. Assume that the company uses variable costing a. Determine the unit product cost. b. Prepare a contribution format income statement for May