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Lymch Company manufactures and selis a single product. The following costs were incurred dunng the...

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Accounting

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Lymch Company manufactures and selis a single product. The following costs were incurred dunng the company's first year of operations During the year, the company produced 26,000 unas and sold 22,000 unas the seling price of the company' product is 546 per unit Required: 1 Assume that the company uses absorption cesting 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 yeat. Complete this question by entering your answers in the tabs below

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