Walsh Company manufactures and selts one product. The following information pertains to each of the compary's first two years of operations: During its first year of operations, Walsh produced 50,000 unlts and sold 40,000 units. During is second year of operations, it. produced 40,000 units and sold 50,000 unlis. The selling pice of the compony'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. Reconclle the difference between variable costing and absorption cohting net operating incone in Year 1