Please show workings Lynch Company manufactures and...
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Please show workings
Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Luring the year, the company produced 31.000 units and sold 21.000 units. The selling price of the company's product is $44 per unit Required: 1. Assume that the company uses absorption costing: a. Compute the unit ptoduct cost. b. Prepare an income statement for the yeac. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement foc the yeat. Complete this question by entering your answers in the tabs below. Compute the unit product cost. Assume that the company uses absorption coating Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume that the company uses abs Complete this question by entering your answers in the tabs below. Compute the unit product cost. Assume that the company uses variable costing Prepare an income statement for the year. Assume that the company uses variable costing
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