Waish Company manufactures and sels 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 operatuons, it produced 40,000 units and sold 50,000 units. The seling 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. Piepare an income statement for Year 1 and Year 2 2 Assume the compony uses obsorption costing a. Compute the unit product cost for Year 1 and veai 2 b. Prepore an income statement for Vear 1 and Year? 3. Reconcile the difference between vanable casting and absorpton costing net operatung ingeme in Year 1 Complete this question by entering vour answers in the tabs below. Assume the combany uses variabif costing. Prepare an inceme statement for Year 1 and Year 2 . Waish Company manufactures and sels 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 operatuons, it produced 40,000 units and sold 50,000 units. The seling 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. Piepare an income statement for Year 1 and Year 2 2 Assume the compony uses obsorption costing a. Compute the unit product cost for Year 1 and veai 2 b. Prepore an income statement for Vear 1 and Year? 3. Reconcile the difference between vanable casting and absorpton costing net operatung ingeme in Year 1 Complete this question by entering vour answers in the tabs below. Assume the combany uses variabif costing. Prepare an inceme statement for Year 1 and Year 2