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Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations Variable coats per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Tixed conta per year Fixed manufacturing overhead Pixed selling and adsinistrative expenses $ $ $ $ 25 15 3 2 $240,000 $ 60,000 During 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 seling price of the company's product is $80 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2 2. Assume the company uses absorption costing: a. Compute the unit product cost for Year 1 and Year 2. b. Prepare an income statement for Year 1 and Year 2 3. Reconcile the difference between variable costing and absorption costing net operating income in Year 1. Complete this question by entering your answers in the tabs below. Req IA Reg 1B Req ZA Req 2B Reg 3 Assume the company uses variable costing. Compute the unit product cost for year 1 and year 2. Year 1 Year 2 Unit product cost Req 18 >

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