Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 40,000 units and sold 32,000 units at a price of $140 per unit. Exercise 19-3 (Algo) Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below] Cool Sky reports the following for its first year of operations. The company produced 40,000 units and sold 32,000 units at a price of $140 per unit. Exercise 19-3 (Algo) Part 2a 2a. Assume the company uses variable costing. Determine its total product cost per unit. Exercise 193 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below] Cool Sky reports the following for its first year of operations. The company produced 40,000 units and soid 32,000 units at a price of $140 per.unit. Exercise 193 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing