NEED ANSWER WITHIN AN HOUR MAX TIME PLEASE! Lincoln Company, which has only one product, has provided the following data concerning its most recent…

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

1.What is the unit product cost for the month under variable costing?Unit Product cost under Variable Costing:Unit Product Cost = Direct Materials + Direct Labor + Variable Manufacturing…