Waah Compary manufactures and sells one product. The following information pertains to each of the companys first two yean of operabons Duting its fest year of operations. Waish produced 50.000 units and sold 40.000 units. During ts second yeat at operations, it produced 40000 units and sold 50,000 units. The selling peice of the company's product is 556 per unit. Requiled, Atsume the compary use-s variatile costang Compoite the unit noduct colt for Year 1 and Yeal 2 Prepare an income statement for Yeat 1 and Year 2. 2. Assume the company uses absorption costing: 3. Compute the unit product cost for year 1 and reat 2 . 3. Piepare an income statement for Year 1 and Year 2 3. Peconcile the difference between variable costing and absorption costing net operating income in year 1 Camplete this question by entering your answers in the tatis below. Acsume the mompany ines varlable corting. Conyoute the unit product cost for ywar 1 and year 2 . Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: 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 $56 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. Corr the unit product cost for Year 1 and Year 2 . b. Pre, an income statement for Year 1 and Year 2 3. Reconcile t difference between variable costing and absorption costing net operating income in Year 1 . Complete this question by entering your answers in the tabs below. 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 $56 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 Year 1 . Complete this question by entering your answers in the tabs below. Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2
