Exerclse 6-9 (Algo) Varlable and Absorption Costing Unit Product Costs and income Statements [LO6-1, LO6-2,...
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Exerclse 6-9 (Algo) Varlable and Absorption Costing Unit Product Costs and income Statements [LO6-1, LO6-2, LO6-3] Waish Company manufactures and selis one product. The following information pertains to each of the company's first two years of operations: During its first year of operations. Walsh produced 50.000 units and sold 40.000 units. During its second year of operations, it produced 40.000 units and sold 50.000 units. The selling price of the company's product is 556 per unit? Required: 1. Assume the company uses variable costang. a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2 . 2. Ascome the company uses absorption costing: a. Compute the unit prodict cost for Year 1 and Year 2. b. Prepare an income statement for Yeat 1 and Year 2 3. Reconcle the difference between varisble costing and absorption costing net operating income in year t. Conplete this question by entering your answers in the tabs below. Assume then combany vses yartable costing. Compute the unit product cost for year 1 and reat 2
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