e Study #3 1 Saved 1 of 4 ts eBook Print eferences 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 $ 27 $ 15 54 $ 1 $ 550,000 Fixed selling and administrative expenses $ 200,000 During its first year of operations, O'Brien produced 92,000 units and sold 72,000 units. During its second year of operations, it produced 78,000 units and sold 93,000 units. In its third year, O'Brien produced 89,000 units and sold 84,000 units. The selling price of the company's product is $79 per unit. Required: 1. Assume the company uses variable costing and a FIFO Inventory flow assumption (FIFO means first-in first-out, in other words, it assumes the oldest 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. Required: 1. Assume the company uses variable costing and a FIFO inventory flow assumption (FIFO means first-in first-out; in other words, it assumes the oldest 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. Prepare an income statement for Year 1, Year 2, and Year 3. O'Brien Company Variable Costing Income Statement Variable expenses Total variable expenses Fixed expenses: Year 1 + Year 2 Year 3 0 O 0 0 0 0 Total fixed expenses 0 0 0 $ 0 $ 0 $ 0 S 2. Assume the company uses variable costing and a LIFO inventory flow assumption (LIFO means last-in first-out; in other words, it assumes the newest units in inventory are sold first): Book Print a. Compute the unit product cost for Year 1, Year 2, and Year 3. ferences b. Prepare an income statement for Year 1, Year 2, and Year 3. Complete this question by entering your answers in the tabs below. ok 2. Assume the company uses variable costing and a LIFO inventory flow assumption (LIFO means last-in first-out; in other words, it assumes the newest units in inventory are sold first): a. Compute the unit product cost for Year 1, Year 2, and Year 3. nces b. Prepare an income statement for Year 1, Year 2, and Year 3. Complete this question by entering your answers in the tabs below. Req 2A Req 28 Compute the unit product cost for Year 1, Year 2, and Year 3. Unit Product Year 1 Year 21 Year 3 Cost eBook P References 3. Assume the company uses absorption costing and a FIFO inventory flow assumption (FIFO means first-in first-out; in other words, it assumes the oldest 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. Complete this question by entering your answers in the tabs below. Req 3A Req 38 Compute the unit product cost for Year 1, Year 2, and Year 3. Note: Round your intermediate calculations and final answers to 2 decimal places. Year 1 Year 201 Year 3 Unit Product Cost 25 points 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. Complete this question by entering your answers in the tabs below. eBook Print Req 3A References Req 3B: Prepare an income statement for Year 1, Year 2, and Year 3. Note: Round your intermediate calculations to 2 decimal places. O'Brien Company Absorption Costing Income Statement Year 1 Part 4 of 4 25 oints 4. Assume the company uses absorption costing and a LIFO inventory flow assumption (LIFO means last-in first-out; in other words, it assumes 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. Complete this question by entering your answers in the tabs below. ebook Req 4A Req 40 Print References Prepare an income statement for Year 1, Year 2, and Year 3. Note: Round your intermediate calculations to 2 decimal places. O'Brien Company Absorption Costing Income Statement Year 1 Year 2 Year 3 0 0 01 $ 05 05 0 Part 4 of 4 25 points eBook Prant References 4. Assume the company uses absorption costing and a assumes 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. fritory flow assumpor Complete this question by entering your answers in the tabs below. Req 4A Req 48 Compute the unit product cost for Year 1, Year 2, and Year 3. Note: Round your intermediate calculations and final answers to 2 decimal places. Unit Product Cost Year 11 Year 21 Year 3 4A Req 4B >