Please help solve this two part question (#1, Ch. 4). Thank you.

Required Information The following information applies to the questions displayed below) O'Brien Company manufactures and sellis 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 yeart Fixed manufacturing overhead Fixed selling and administrative expenses 5 26 $ 17 54 5 3 $570,000 $140,000 During its first year of operations, O'Brien produced 92,000 units and sold 74,000 units. During its second year of operations, it produced 77000 units and sold 90,000 units. In its third year, O'Brien produced 82,000 units and sold 77.000 units. The selling price of the company's product is $72 per unit Required: 1 Assume the company uses variable 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. Res 1 Res 10 Compute the unit product cost for Year 1 Year 2. and Year 3. Line Product CA YHRE 1 Year 2 Yea Reg18 > Required: 1 Assume the company uses variable 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 1A Reg 13 Prepare an income statement for Year 1, Year 2, and Year 3. O'Brien Company Variable Costing Income Statement Year 1 Year 2 Year 3 Sales Variable expenses Variable cost of goods sold Variable selling and administrative 0 0 0 0 0 0 Total variable expenses Contribution margin Faced expenses Fixed manufacturing overhead Fixed selling and administrative Total fixed expenses 0 0 0 Net operating income $ 0 s 0 $ 0