Required information Exercise 19-9 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 costing data on its product for its first year of operations During this first year the company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 60 $ 22 $8 $ 528,000 $ 9 $ 105,000 Exercise 19.9 Part 1a Prey 1 2 3 4 of 4 ! Next > Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year 22 8 $ 528,000 $ 9 $ 105,000 Exercise 19-9 Part 1a 10. Assume the company uses absorption costing. Determine its product cost per unit. Per unit product cost using: Absorption costing Total cost per unit Prey 1 CO 2 3 3 4 of 4 Next > COOL SKY Absorption Costing Income Statement 0 0 Net Income (loss) Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year 24 8 $ 528,000 9 $ 105,000 Exercise 19-9 Part 2a 20. Assume the company uses variable costing. Determine its product cost per unit. Per unit product cost using: Variable costing Total cost per unit 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement Net Income (loss)