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Required information

Exercise $19-3($Algo$)$ Income statement under absorption costing and variable costing LO P$1,$ P$2$

$[$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.

$\backslash$table$[[$Direct materials,$$60$ per unit$],[$Direct labor,$$22$ per unit$],[$Variable overhead,$$8$ per unit$],[$Fixed overhead,$$480,000$ per year$],[$Variable selling and administrative expenses,$$10$ per unit$],[$Fixed selling and administrative expenses,$$110,000$ per year$]]$

Exercise $19-3($Algo$)$ Part $1$a

$1$a$.$ Assume the company uses absorption costing. Determine its total product cost per unit.

$\backslash$table$[[$Per unit product cost using:,Absorption costing$],[$Direct labor,$