0 Required information The following information applies to the questions displayed below. Inner Secret T Shirt Company produces and sells one product. The following information pertains to each of the company's first three years of operations Variable costs per unit Hanufacturing Direct materials 30 15 Direct labor Variable manufacturing overhead Variable selling and administrative es Pixed costs per yeari Pixed manufacturing overheacd Pixed se1ling and administrative expenses $510,000 110,000 During its first year of operations, O'Brien produced 91,000 units and sold 80,000 units. During its second year of operations, it produced 81,000 units and sold 87,000 units. in its third ygar, O'Brien produced 86,000 units and sold 81,000 units. The selling price of the company's product is $79 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