Please show all calculations as I am struggling to figure out the calculations

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

Variable Cost per Unit

Manufacturing

DMaterials

29

DLabor

16

Variable Manf OHD

6

Variable selling and admin

5

Fixed cost per yr

Fixed manufacturing OHD

320000

Fixed selling

and admin exp

90000

During its first year of operations, Walsh produced 50000 units and sold 40000 units.During its second year of operations, it produced 40000 units and sold 50000.The selling price of the company's product is 55 per unit.

Required:

1.Assume the company uses variable costing.

a.Computer the unit product cost for Year 1 and 2

b.Prepare an income statement for Year 1 & Year 2

2. Assume the company uses absorption costing

a. Computer the unit product cost for Year 1 & Year 2

b.Prepare an income statement for Year 1 & Year 2

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