1 Required information [The following information applies to the questions displayed below.] Part 1 of 2 O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: 5 points Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses $ $ $ eBook 27 16 6 4 Print $500,000 $199,000 During its first year of operations, O'Brien produced 96,000 units and sold 78,000 units. During its second year of operations, it produced 77,000 units and sold 90,000 units. In its third year, O'Brien produced 82,000 units and sold 77,000 units. The selling price of the company's product is $79 per unit. 2. Assume the company uses variable costing and a LIFO inventory flow assumption (LIFO means last-in first-out. In other words, it assumes that the newest 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. 1 Required information Complete this question by entering your answers in the tabs below. Part 1 of 2 Req 2A Reg 2B 5 points Prepare an income statement for Year 1, Year 2, and Year 3. O'Brien Company Variable Costing Income Statement Year 1 Year 2 eBook Year 3 Print Sales Variable expenses Variable cost of goods sold Variable selling and administrative 0 0 0 Total variable expenses Contribution margin Fixed expenses 0 0 0 Fixed manufacturing overhead Fixed selling and administrative Total fixed expenses Net operating income 0 0 0 0 $ 0 $ 0