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O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first Prepare an income statement for Year 1 ,

O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first Prepare an income statement for Year 1, Year 2, and Year 3.
Note: Round your intermediate calculations to 2 decimal places.
three years of operations:
During its first year of operations, O'Brien produced 97,000 units and sold 77,000 units. During its second year of
operations, it produced 81,000 units and sold 96,000 units. In its third year, O'Brien produced 83,000 units and sold
78,000 units. The selling price of the company's product is $79 per unit.
Assume the company uses absorption 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.
Answer is complete but not entirely correct.
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