Which of the following scenarios would indicate that a nation's economy is entering the recovery phase of the business cycle?

after sales figures increase for several months, economic data indicates that retailers are hiring new workers to satisfy increased demand.

after several months of declining sales, sale levels reach an all-time low.

after several months of declining sales levels, higher retail sales are recorded for three months in a row.

after a promising holiday season, retail sales in the nation begin to decline during the spring.

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.