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Req 2B: ?

nunber provided are the same for each question!

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: $1 Variable costs per unit: Manufacturing: Direct materials $ 10 Direct labor $ 5 Variable manufacturing overhead Variable selling and administrative $1 Fixed costs per year! Fixed manufacturing overhead $ 385,000 Pixed selling and administrative $ 295,000 During the year, the company produced 35,000 units and sold 17,000 units. The selling price of the company's product is $58 per unit Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost b. Prepare an income statement for the year. es Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Rea 2 Reg 28 Compute the unit product cost. Assume that the company uses absorption costing Unit product cost Roq 18 > $ 1 Variable costs per unit: Manufacturing Direct materials $ 10 Direct labor 55 Variable manufacturing overhead Variable selling and administrative $1 Fixed costs per year: Fixed manufacturing overhead $ 35,000 Fixed selling and administrative $ 295,000 During the year, the company produced 35,000 units and sold 17.000 units. The selling price of the company's product is $58 per unit. Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost b. Prepare an income statement for the year 2. Assume that the company uses variable costing a. Compute the unit product cost b. Prepare an income statement for the year ence Complete this question by entering your answers in the tabs below. Real Reg 13 Reg 2A Reg 28 Prepare an income statement for the year. Assume that the company uses absorption costing Lynch Company Absorption Costing Income Statement Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable conta per uniti Manutacturing Direct materials $ 10 Direct labore $ 5 Variable manufacturing overhead 51 Variable selling and administrative $ Fixed costs per years Tixed manufacturing overhead $385,000 Yixed selling and administrative $ 295,000 During the year, the company produced 35,000 units and sold 17,000 units. The selling price of the company's product is $58 per unit Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost, int b. Prepare an income statement for the year, 2. Assume that the company uses variable costing a. Compute the unit product cost rences b. Prepare an income statement for the year. Complete this question by entering your answers in the tabs below. Rea 1 G 10 Reg 2 RG20 Compute the unit product cont. Assume that the company uses variable costing Mag Reg 20 > Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: $1 Variable costs per unit: Manufacturing: Direct materials $ 10 Direct labor $ 5 Variable manufacturing overhead Variable selling and administrative $1 Tixed costs per year Fixed manufacturing overhead $.385,000 Fixed selling and administrative $ 295,000 During the year, the company produced 35,000 units and sold 17,000 units. The selling price of the company's product is $58 per unit. Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a Compute the unit product cost b. Prepare an income statement for the year, Complete this question by entering your answers in the tabs below. Rea 1 Reg 16 Reg 2A Reg 20 Prepare an income statement for the year. Assume that the company uses variable costing. Lynch Company Variable Costing Income Statement