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 Year 1 Year 2 Year 3 Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses Req 1A During its first year of operations, O'Brien produced 92,000 units and sold 78,000 units. During its second year of operations, it produced 80,000 units and sold 89,000 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 that 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. $ 26 $ 17 $5 $ 3 Req 1B Compute the unit product cost for Year 1, Year 2, and Year 3. $ 580,000 $ 130,000 Unit Product Cost

O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first. three years of operations: During its first year of operations, O'Brien produced 92,000 units and sold 78,000 units. During its second year of operations, it produced 80,000 units and sold 89,000 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 that 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. Compute the unit product cost for Year 1, Year 2, and Year 3. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1, Year 2, and Year 3