I'm beyond stuck with this problem and really this chapter in acc2080 as a whole and I'm not able to get ahold of my professor within the next day about this since the weekend has started so I'm hoping that someone out there has the knowledge and willfulness to help explain to me on how to solve this equation. I would really appreciate the help with this one so I can get past a few other questions similar to it, but on my own hopefully. For the record, everything attached to this is everything and anything I could have provided on this question, there is nothing missing from it.

Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead $250,000 Fixed selling and administrative $160,000 ' Min-{AM unmar- During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $47 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. to. 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 absorption costing. Req1B ) Lynch Company manufactures and sells a single product. The following costs were incurred during the company's rst year of operations: Variable costs per unit: Manufacturing : Direct materials $ 14 Direct labor $ 3 Variable manufacturing overhead $ 2 Variable selling and administrative $ 2 Fixed costs per year: Fixed manufacturing overhead $250,000 Fixed selling and administrative $160,000 ' During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $47 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. Req 1A Req lB Req 2A Req 23 Prepare an income statement for the year. Assume that the company uses absorption costing. Lynch Company manufactures and sells a single product. The following costs were incurred during the company's rst year of operations: Variable costs per unit: Manufacturing: Direct materials $ 14 Direct labor $ 8 Variable manufacturing overhead $ 2 Variable selling and administrative $ 2 Fixed costs per year: Fixed manufacturing overhead $250,000 Fixed selling and administrative $160,000 ' During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $47 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. Lynch Company manufactures and sells a single product. The following costs were incurred during the company's rst year of operations: Variable costs per unit: Manufacturing: Direct material: Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead $250,000 Fixed selling and administrative $160,000 ' 415-05-th [919mb During the year, the company produced 25,000 units and sold 21,000 units. The selling price of the company's product is $47 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. Prepare an income statement for the year. Assume that the company uses variable costing