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 Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costo per years Pixed manufacturing overhead Fixed selling and administrative expenses $ $ $ 23 10 5 4 $400,000 $ 80,000 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 $87 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. Reg 1A Reg 1B Reg 2A Reg 28 Reg 3 Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2. Year 1 Year 2 Unit product cost ROGA Reg 1B > 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 incom Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2A Req 28 Reg 3 Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. Walsh Company Income Statement Year 1 Year 2 0 0 0 0 0 Net operating Income (loss) 0 ols 0 $ $ $ 10 5 4 Direct materiala Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year. Pixed manufacturing overhead Pixed selling and administrative expenses $400,000 $ 80,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second produced 40,000 units and sold 50,000 units. The selling price of the company's product is $87 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 nces Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2A Req 28 Req3 Assume the company uses abskeption costing. Compute the unit product cost for Year 1 and Year 2. (Round you calculations and final answers to 2 decimal places.) Year 1 Year 2 Unit productos 6 Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two operations: 56 Variable costs per units Manufacturing Direct materiale Direct labor Variable manufacturing overhead Variable selling and administrative Pined conte per year. Tixed manufacturing overhead Pined selling and administrative expenses $ $ $ $ 23 10 5 4 03.22:05 $400,000 $ 80,000 eBook Print During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, produced 40,000 units and sold 50,000 units. The selling price of the company's product is $87 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year 2. h. 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. ReqIA Reg 1B Req 2A Reg 28 Reg 3 Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year 2. (Round your intermediate calculations to 2 decimal places.) Walch Company Income Statement Year 1 Year 2 05 ring its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second yea sduced 40,000 units and sold 50,000 units. The selling price of the company's product is $87 per unit. quired: Assume the company uses variable costing: Compute the unit product cost for Year 1 and Year 2. Prepare an income statement for Year 1 and Year 2 Assume the company uses absorption costing: Compute the unit product cost for Year 1 and Year 2. Prepare an income statement for Year 1 and Year 2 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. RA Reg 1B Reg 2A Req 28 3 Recome the difference between variable costing and absorption costing net operating income in Year 1, (Enter any los eductions as a negative value. Round your intermediate calculations to 2 decimal places.) We operating income (los) Year 1 Year 2 Nog net operating income (s)