ynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Dunng the year, the company produced 32,000 units ond sold 17,000 units. The selling price of the company's product is $53 per unit Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost. b. Prepare an income statement for the year 2. Assume that the company uses variable costing: a. Compute the unit product cost b. Prepare an income statement for the year: Complete this question by entering your answers in the tabs belaw. Compute the unit product cost. Assume that the company uses absorption costing vuring vie year, une company proouced 3, UuU ursts and soid 1 , vuU umis. ine semng price or une company s proauct is $53 per ur Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement for the year. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume that the company uses absorption costing. During the year, the compony produced 32,000 units and sold 17,000 units. The selling price of the company's product is $53 per unit. Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement for the year. Complete this question by entering your answers in the tabs below. Compute the unit product cost. Assume that the company uses variable costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume that the company uses variable costing