During the course of a year, the labor force consists of the same 1 comma 025 people. Of these, 18 lack skills that employers desire and hence remain unemployed throughout the year. At the same time, every month during the year, 24 different people become unemployed, and 24 other different people who were unemployed find jobs. There is no cyclical unemployment. a.)Calculate thr frictional unemployment rate % (rounded to two decimal places)b.) Calculate the unemployment rate % (rounded to two decimal places)

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: 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 year.