3 ! Required information (The following information applies to the questions displayed below.] 3 of 4 O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: 1 Book 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 4 $550,000 $140,000 Print erences During its first year of operations, O'Brien produced 91,000 units and sold 79,000 units. During its second year of operations, it produced 83,000 units and sold 90,000 units. In its third year, O'Brien produced 81,000 units and sold 76,000 units. The selling price of the company's product is $74 per unit. 3. Assume the company uses absorption 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. Complete this question by entering your answers in the tabs below. Req 3A Req 3B Compute the unit product cost for Year 1, Year 2, and Year 3. (Round your intermediate calculations and final answers to 2 decimal places.) of 4 During its first year of operations, O'Brien produced 91,000 units and sold 79,000 units. During its second year of operations, it produced 83,000 units and sold 90,000 units. In its third year, O'Brien produced 81,000 units and sold 76,000 units. The selling price of the company's product is $74 per unit. 3. Assume the company uses absorption 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. Pok Complete this question by entering your answers in the tabs below. int Req Reg 3B ences Compute the unit product cost for Year 1, Year 2, and Year 3. (Round your intermediate calculations and final answers to 2 decimal places.) Unit Product Cost Year 1 Year 2 Year 3 Reg 3A Req 3B > During its first year of operations, O'Brien produced 91,000 units and sold 79,000 units. During its second year of operations, it produced 83,000 units and sold 90,000 units. In its third year, O'Brien produced 81,000 units and sold 76,000 units. The selling price of the company's product is $74 per unit. of 4 3. Assume the company uses absorption costing and a FIFO inventory flow assumption (FIFO means first-in first-out. In other 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. . Complete this question by entering your answers in the tabs below. ok Reg Req 3B nt Prepare an income statement for Year 1, Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places.) nces O'Brien Company Absorption Costing Income Statement Year 1 Year 2 Year 3