Required information Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [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. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 60 per unit $ 22 per unit $8 per unit $480,000 per year $ 11 per unit $ 105,000 per year Exercise 19-3 (Algo) Part 2a 2a. Assume the company uses variable costing. Determine its total product cost per unit. Per unit product cost using: Variable. costing $ 352,000 Variable overhead per unit Direct labor per unit Direct materials per unit Variable overhead per unit Total product cost per unit $ 352,000