Saved rcise 6-9 (12 pts) Help Save & Exit Submit Check my work 1 Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations shipped Variable conta per unit: Manufacturing Direct materials $20 Direct labor $ 13 Variable manufacturing overhead $4 Variable selling and administrativo Yixed costo per year Fixed manufacturing overhead 5.240.000 Fixed selling and administrative expenses $ 50,000 During its first year of operations, Wolsh 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. BOOK Hit Print Perences 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 Reg 1A Reg 1B Req 2A Req 2B Req3 Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2. Year 1 Year 2 Unit product cost 5 Reg 1 Reg 1B > Walsh Company Income Statement Year 1 Year 2 Net operating income (loss) Req 1A Req 1B Req 2A Req 2B Reg 3 Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2. (Round decimal places.) Year 1 Year 2 Unit product cost Reg 1A Req 1B Req 2A Req 2B Req 3 Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. ( calculations to 2 decimal places.) Walsh Company Income Statement Year 1 Year 2 Net operating income (loss) Req 2A Reg 3 > Reg 1A Reg 1B Reg 2A Req 2B Reg 3 Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses or deductions as a negative value.) Year 1 Year 2 Variable costing net operating income (los) Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing Absorption costing net operating Income (losa) Reg 28 Hes