4. Assume the company uses absorption 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. (Round your intermediate calculations and final answers to 2 decimal places.) b. Prepare an income statement for Year 1, Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places. ) Variable costs per unit: Manufacturing:Direct materials$28Direct labor$16Variable manufacturing overhead$6 Variable selling and administrative$2Fixed costs per year: Fixed manufacturing overhead$510,000Fixed selling and administrative expenses$200,000