apter 6 ICA #1 (LO 1,2) Saved Help Save & Exit Chec Exercise 6-6 Variable and Absorption Costing Unit Product Costs and Income Statements [LO6-1, Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations ints Variable costs per unit: eBook Print References Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 6 $3 4 Fixed costs per year: Fixed manufacturing overhead 300,000 $190,000 Fixed selling and administrative During the year, the company produced 25,000 units and sold 20,000 units. The selling price of the company's product is $50 per unit. Required 1. Assume that the company uses absorption costing: a. Compute the unit product cost. Prev 1of 11: Next > Mc Chapter 6 ICA #1 (LO 1,2) Saved Help Save & Required 1. Assume that the company uses absorption costing: a. Compute the unit product cost 6 points Unit product cost eBook Print References b. Prepare an income statement for the year. Lynch Company Absorption Costing Income Statement 2. Assume that the company uses variable costing: a. Compute the unit product cost Unit product cost$ 18: es b. Prepare an income statement for the year Lynch Company Variable Costing Income Statement Variable expenses Chapter 6 ICA #1 (L012) Saved Help Save b. Prepare an income statement for the year. 6 points Lynch Company Variable Costing Income Statement eBook Print References Variable expenses Fixed expenses: Mc rev Next