02 Mar 4.Lincoln Company, which has only one product, has
4.Lincoln Company, which has only one product, has provided the following data concerning its most recent month of operations.Selling price $125Units in beginning inventory 600Units produced 3,000Units sold 3,500Units in ending inventory 100Variable costs per unit:Direct materials $27Direct labor $18Variable manufacturingoverhead $10Variable selling and admin$12Fixed costs:Fixed manufacturing overhead$75,000Fixed selling and admin$30,000?Required:What is the unit product cost for the month under variable costing?What is the unit product cost for the month under absorption costing?Prepare an income statement for the month using the variable costing method.Prepare an income statement for the month using the absorption costing method
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