Cool sky reports the following cost data on its product for its first year of operations.

Required information Exercise 6-9 Income statement under absorption costing and variable costing LO P1, P2 (The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32000 units at a price of $130 per unit Manufacturing costs 54 20 Direct materials per unit Direct labor per unit Variable "overhead per unit Fixed overhead for the year s 440,000 Selling and administrative costs Variable selling and administrative cost pen unit Fixed selling and administrative cost per year s 115,e0e 1a. Assume the company uses absorption costing. Determine its product cost per unit. Per unit product cost using Absorption costing Cost per unit 20. Assume the company uses variable costing. Determine its product cost per unit. Variable costing Per unit product cost using: Cost per unit 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement Net income (loss)