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Required information (The following information applies to the questions displayed below) O'Brien Company manufactures and sells one product. The following information pertains to each of the company's tirst three years of operations: 29 $ Variable costs per unit Manufacturing Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year! Fixed sanufacturing overhead Fixed selling and administrative expenses 5560,000 $150,000 During its first year of operations. O'Brien produced 93,000 units and sold 74,000 units During its second year of operations, it produced 77,000 units and sold 91,000 units in its third year O'Brien produced 87000 units and sold 82,000 units. The selling price of the company's product is $75 per unit 3. Assume the company uses absorption costing and a FIFO Inventory flow assumption (AFO means first in first-out In other words, it assumes that the oldest units in Inventory are sold first 3. Assume the company uses absorption costing and a FIFO inventory flow assumption (FIFO means first-In firstout In other words, it assumes that the oldest units in inventory are sold first): a Compute the unit product cost for Year 1. Year 2, and Year 3. b. Prepare an income statement for Year 1. Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Reg 3A Reg 3B Compute the unit product cost for Year 1, Year 2, and Year 3. (Round your intermediate calculations and final answers to 2 decimal places.) Unit Product Cost Year 1 Year 2 Year 3 3. Assume the company uses absorption costing and a FIFO inventory flow assumption (FIFO means first in first-out. In other words, it assumes that the oldest units in Inventory are sold first) a Compute the unit product cost for Year 1 Year 2, and Year 3 b Prepare an income statement for Year 1. Year 2 and Year 3. Complete this question by entering your answers in the tabs below. ReG JA Reg 38 Prepare an income statement for Year 1, Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places.) O'Brien Company Absorption Costing Income Statement Year 1 Year 2 Year 3 0 0 0 015 0$ D Required information The following information applies to the questions displayed below) O'Brien Company manufactures and sells 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 Fixed selling and administrative expenses $ 5 5 $ 29 15 4 3 $560,000 $160,000 During its first year of operations, O'Brien produced 93.000 unts and sold 74 000 units During its second year of operations, it produced 77.000 units and sold 91,000 units. In its third year, O'Brien produced 87000 units and sold 82.000 units. The selling price of the company's product is $75 per unit 4. Assume the company uses absorption costing and a LIFO inventory flow assumption (UFO means lastn first-out. In other words, it assumes that the newest units in inventory are sold first) a Compute the unit product cost for Year 1 Year 2 and Year 3 b. Prepare an income statement for Year 1 Year 2 and Year 3 Complete this question by entering your answers in the tabs below. Req Reg 48 Compute the unit product cost for Year 1 Year 2, and Year 3. (Round your intermediate calculations and final answers to 2 decimal places.) Unit Product Cost Year 1 Year 2 Year 3 Complete this question by entering your answers in the tabs below. Reg 4A Reg 48 Prepare an income statement for Year 1, Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places.) O'Brien Company Absorption Costing Income Statement Year 1 Year 2 Year 3