formatio applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 40,000 units and sold 32,000 units at a price of $140 per unit. Direct materials Direct labor Variable overhead Variable selling and administrative expenses Fixed overhead 2) Fixed selling and administrative expenses $ 60 per unit $ 22 per unit $ 8 per unit $ 480,000 $ 12 per year per unit $ 100,000 per year 1a. Assume the company uses absorption costing. Determine its total product cost per unit. Per unit product cost using: Direct materials Absorption costing Direct labor Variable overhead Fixed overhead Total product cost per unit