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Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: During its fist 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 grice of the company's product is $60 per unit. Required: 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. Reconcle 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. Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: During its fist 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 grice of the company's product is $60 per unit. Required: 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. Reconcle 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