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opera 1 12 166 Dones Variable costs per unit: Manufacturing Direct materials Direct lobor Variable manufacturing overhead Variable selling and administrative Fixed costs per year Fixed manufacturing overhead Fixed selling and administrative 5 5 5 2 2 5245.000 5158,000 elook Hint During the year, the company produced 31000 units and sold 21.000 units. The selling price of the company's product is $44 per una 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 Print References Complete this question by entering your answers in the tabs below. RGIA Reg 18 Pe 2A Reg 20 Prepare an income statement for the year. Assume that the company uses absorption costing Lynch Company Absorption Costing Income Statement Salon S924000 Cost of goods sold 609,000 Gross margin 315.000 Selling and administrative expense Net operating income 5315.000 Exercise 6-7 (Algo) Segmented Income Statement [LO6-4) Shannon Company segments its income statement into its North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $900,000, 30%, and $18,000, respectively. The North Division's contribution margin and contribution margin ratio are $102,000 and 34%, respectively. The South Division's segment margin is $120,000. The company has $180,000 of common fixed expenses that cannot be traced to either division Required: Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (i.e 1234 should be entered os 12.3).) Total Company Amount % $ 900,000 North Amount Divisions South Amount % 100.0 Sales Variable expenses Contribution margin Traceable fixed expenses Territorial segment margin Common fixed expenses Net operating income 180,000 18,000 $

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