Cool Sky reports the following for its first year of operations. The company produced $44,000$ units and sold $36,000$ units at a price of $$140$ per unit.

$\backslash$table$[[$Direct materials,$$60$ per unit$],[$Direct labor,$$22$ per unit$],[$Variable overhead,$$8$ per unit$],[$Fixed overhead,$$528,000$ per year$],[$Variable selling and administrative expenses,$$11$ per unit$],[$Fixed selling and administrative expenses,$$105,000$ per year$]]$

Assume the company uses absorption costing.

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a$.$ Determine its total product cost per unit.

b$.$ Prepare its income statement for the year under absorption costing.

Assume the company uses variable costing.

a$.$ Determine its total product cost per unit.

b$.$ Prepare its income statement for the year under variable costing.