LUIELLUN Required Information Case 6 29 Variable and Absorption Costing Unt Product Costs and Income Statements (LO6-1, L062 me blowing information applies to the questions displayed below. O'Brien Company manufactures and sets one product. The following information pertains to each of the company's first three years of operations Variable costs per unit: Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year! Fixed manufacturing overhead $590, Bee Fixed selling and administrative expenses $160, eee During its first year of operations. O'Brien produced 93.000 units and sold 79.000 units. During its second year of operations. It produced 76,000 units and sold 5,000 units. In its third year, O'Brien produced 80,000 units and sold 75,000 unts. The selling price of the company's product is $70 per unit. Case 6-29 Part-1 Required: 1. Assume the company uses variable costing and FIFO Inventory flow assumption (FIFO means first in first-out. In other words. assumes that the oldest units in inventory are sold Trst a. Compute the unit product cost for Year 4 Year 2. and Year 3. bi Prepare an income statement for Year 1 Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Comment 1 Year 2 nd Year 3 Unit Provot CoBit