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Saved Help Save Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations Variable costs per unit Manufacturing Direct materials $ 27 Direct labor $ 10 Variable manufacturing overhead $ 2 Variable selling and administrative $! Pixed costs per years Fixed manufacturing overhead $ 320,000 Fixed selling and administrative expenses 5.90,000 During its first year of operations, Welsh 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 $54 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 casting and absorption costing net operating income in Year 1 Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Reg 2A Reg 20 Reg 3 Assume the company uses variable costing Compute the unit product cast for year 1 and year 2 Proy 1 of 3 Next >