requiremnets 1a. 1b. 2a. 2b.

Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements (L07-1, LO7 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costa per uniti Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costo per year. Fixed manufacturing overhead Fixed selling and administrative $276,000 $186.000 During the year, the company produced 23,000 units and sold 19,000 units. The selling price of the company's product is $50 per u 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 1B Req 2A Req 28 Compute the unit product cost. Assume that the company uses absorption costing. Unit product cost Reg 18 > Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements (L07-1, L07-2] Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable conta per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Pixed costs per years Fixed manufacturing overhead Pixed selling and administrative $276,000 $186,000 During the year, the company produced 23,000 units and sold 19,000 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. 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 LA Reg 1B Reg 2A Reg 28 Prepare an income statement for the year. Assume that the company uses absorption costing. Lynch Company Absorption Costing Income Statement C Reg 1A Reg 2A > Exercise 7-6 Variable and Absorption Costing Unit Product Costs and Income Statements (L07-1, L07-2] 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 yeart Fixed manufacturing overhead Fixed selling and administrative $276,000 $186,000 During the year, the company produced 23,000 units and sold 19,000 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. 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 2A Reg 28 Compute the unit product cost. Assume that the company uses variable costing. Unit product cost Exercise 7.6 Variable and Absorption Costing Unit Product Costs and Income Statements (L07-1, L07-2] 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 materiale Direct labor Variable manafaeturing overhead Variable selling and administrative Fixed costs per year Fixed manufacturing overhead Tixed selling and administrative $276.000 $186.000 During the year, the company produced 23,000 units and sold 19,000 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. 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 IA Reg 1B Reg 2A Reg 28 Prepare an income statement for the year. Assume that the company uses variable costing. Lynch Company Variable Costing Income Statement LE