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 32,000 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 $ 400,000 Selling and administrative costs Variable selling and administrative cost per unit $ 9 Fixed selling and administrative cost per year $ 115,000 Per unit product cost using: Absorption costing Cost per unit COOL SKY Absorption Costing Income Statement 0 0 Net income (loss) Per unit product cost using: Variable costing Cost per unit COOL SKY Variable Costing Income Statement Net income (loss)