please answer the following

Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of

oberations

Variable costs ver unit:

Manutacturing:

Direct materials 24

Direct labor 16

Variable manufacturing overhead4

Variable selling and administrative3

Fixed costs per vear:

Fixed manufacturing overhead$400,000

Fixed selling and administrative expenses $100,000

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 $52 per unit.

Required:

1. Assume the company uses variable costing:

• Compute the unit product cost for Year 1 and Year 2.
• Prepare an income statement for Year 1 and Year 2.

2. Assume the company uses absorption costing:

• Compute the unit product cost for Year 1 and Year 2.
• Prepare an income statement for Year 1 and Year 2

3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1.

question

Wash Comospy marufactures and kels one probuct. The folowirp information pertains to each of the comparys sist fwoyears of aperatiots: Dunng its fest year of operations. Walsh poduced 50000 inss and sold 40000 unts. Dunng its second ytac af operatices, it Hepuired: 1. Lstome the caitedry uses varintie costing a. Compate the int praduct cust far Year t and Yeat 2. b. Prepole an income stotement for Year 1 and Year 2. 2 Acture the serhpary uses abssrpton sorsting a. Cemp.te the Lnt product ease fat Yeat 1 and Yeat 2. b. Prepove an income statement for fear 1 and hesi 2. 2. Percencie tie difitpnce between varisbie coating and abscrpeisn cesesng net operating income in Yeat t Complete thit question by entering vour anwwers in the taks below. Aaseme the campany wee varlable coithp. Cempuce the enli produit cost ter vear i ase year 2 . 8. Reconcile the difference between variable costing and absorption costing net operating income in Year 1 . Complete this question by entering your answers in the tabs below. Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Vear 2 i (Round your answer to 2 . decimal places.) Complete this question by entering your answers in the tabs below. Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. (Round your intermedlate calculations to 2 decimal places.) Complete this question by entering your answers in the tabs below. Reconcile the difference between variable costing and absorption costing net operating income in Year 1 . (Enter any losses or deductions as a negative value.)