Chi Required information [The following information applies to the questions displayed below) O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: 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 $ $ $ $ 28 18 3 4 $560,000 $140,000 During its first year of operations, O'Brien produced 94,000 units and sold 76,000 units. During its second year of operations, it produced 82,000 units and sold 95,000 units. In its third year, O'Brien produced 88,000 units and sold 83,000 units. The selling price of the company's product is $77 per unit. 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. b. Prepare an income statement for Year 1 Year 2, and Year 3. Uura LI TILVLJL HHHVLIY Ulau Hu. Required information Complete this question by entering your answers in the tabs below. Reg 4A Reg 4B 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 Req4B > Required information Prepare an income statement for Year 1, Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places.) O'Brien Company Absorption Costing Income Statement Year 1 Year 2 Sales $ 5,852,000 $ 7.315,000 Cost of goods sold Gross margin 5,852,000 7,315,000 Selling and administrative expenses $ Net operating income $ 5,852,000 7.315.000 Year 3 $ 6,391,000 6,391,000 $ 6,391.000