Walsh Company manufactures and sells 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 operations, it produced 40,000 units and sold 50,000 units. The selling price of the company's product is $60 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. Reconcie the difference between varlable costing and absorption costing net operating income in Year 1. 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. Complate this question by entaring your answers in the tabs below. Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2. Assume the company usess variable costing. Prupare an income stotement for Year 1 and Year 2 . Assume the company uses variable costing. Propare an income stotement for Year 1 and Year 2. 1. Ce mpuce 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 riet operating income in Year 1. Corngliste thils quastion by antaring your anmwars in tha tabs bulow. Reconclie the difference between variable costing and absorption costing net operoting incorne in Yeor 1. (Enter any deductions as a negative value.) a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Ycar 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. Assume the company uses absorption costing. Compute the unit product cost for Year 1 and Year 2. (Round your answer to 2 decimal placos.) 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 antering your answars in the tabs below. Assume the company uses absorption costing. Prepare an income statement for Yeor 1 and Vear 2. (Round your intermediatet colculations to 2 decimal plocess.)