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 $59 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. 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 in Complete this question by entering your answers in the tabs below. Assume the company uses variable costing. 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 Y Complete this question by entering your answers in the tabs below. Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. 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 ing 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 decimal places.) Reconcile the difference between variable costing and absorption costing net operati Complete this question by entering your answers in the tabs below. Assume the company uses absorption costing. Prepare an income statement for Year 1 and calculations to 2 decimal places.) During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of opera produced 40,000 units and sold 50,000 units. The selling price of the company's product is $59 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 this tabs below. Reconcile the difference between variable costing and absorption costing net operating income in Year 1. (Enter any losses o deductions as a negative value.)