Puma Google Slides nbox (1,872)-ocovarubl Help Save & Exit ect Check myw 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 28 Direct labor Variable nanufacturing overhead Variable selling and administrative Fixed costs per year Pixed nanufacturing overhead Fixed selling and administrative expenses $550,000 $130,000 During its first year of operations, O'Brien produced 94,000 units and sold 79,000 units. During its second year of operations, it produced 84000 units and sold 94,000 units. In its third year, O'Brien produced 88,000 units and sold 83,000 units. The selling price of the company's product is $74 per unit. Case 6-29 Part-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. 20 F4 FS F7 F10