Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $120 per unit.

Manufacturing costs
Direct materials per unit	$	48
Direct labor per unit	$	18
Variable overhead per unit	$	6
Fixed overhead for the year	$	420,000
Selling and administrative costs
Variable selling and administrative cost per unit	$	10
Fixed selling and administrative cost per year	$	105,000

A: Assume the company uses absorption costing. Determine its product cost per unit.

Per unit product cost using:	Absorption costing
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?	?
?	?
?	?
?	?
Cost per unit

B: Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing.

COOL SKY
Absorption Costing Income Statement
?		?
?
?	?
?	?
?	?
?	?
?	?
		0
?		?
?
?	?
?	?
?	?
		0
Net income (loss)		?

C: Assume the company uses variable costing. Determine its product cost per unit.

Per unit product cost using:	Variable costing
?	?
?	?
?	?
?	?
?	?
Cost per unit

D: 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)		?

Note: Please its very important to answer the problem completely, all A.B.C and D sections. Thank you.