Wolsh Compary marufactures and selis one product. The following information pertains to each of the compary's first two years of operations: During ats first year of operations. Wahh produced 50,000 units and sold 40000 units. During its second year of operations. It produced 40.000 units and sold 50.000 units. The seting price of the company/s product is $60 per unt. Required: a. Compkite the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Vear 1 and Year 2. 2. Assume the company uses absorption coslngy a. Compete tie unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2. 3. fieconcle the diflerence between varlable costing and absoption costing net operating income in Year 1. Cemplete this questioe ty enterieg your answers in the tabs below. Assume the company uses variable costing. Prepare an income statement for Year 1 and Year 2. a. Compute the una product cost for Year 1 and Year 2 b. Prepare an incorre statement for Year 1 and Year 2 . 2. Assume the company uses absorption costing? a. Compute the unil prodinct cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2 . 3. Reconcile the diflerence between varlable costing and absorption costing net operating income in Year t Complete this questien by enterieg your answers in the tabs below. Assime the corpany uses ateorption costing. Compute the unit broduct cost for Year 1 and Year 2 . (Hound your answer ta 2 decimal jilecrs.) Assume the company uses absorption costing. Prepare an income statement for Year 1 and Year2, (Round your intermediate calculations to 2 decimal places.) 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. Reconcle the difference between variable costing and absorption costing net operating income in Year 1. (Enter any lasses or deductions as a negative value.)