11 Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year Fixed manufacturing overhead Fixed selling and administrative $ $ $ 5 1 1 $420,00 $330,000 During the year, the company produced 30,000 units and sold 25,000 units. The selling price of the company's product is $54 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. Reg 1A Reg 18 Reg 2 Reg 28 Prepare an income statement for the year. Assume that the company uses variable costing Lynch Company Variable Costing Income Statement sales $ 1.350.000 Variable expenses Variable cost of goods sold Variable selling and administrative expense 1.620.000 (270,000) Contribution margin Fed expenses Foed manufacturing overhead Fixed deling and administrative 30