ODaniel company manufactures and sells one product. The following information pertains to each of the companys first three years of operations: Variable costs per unit: Manufacturing: Direct Materials $32 Direct Labor $20 Variable manufacturing overhead $4 Variable selling and administrative $3 Fixed manufacturing overhead 660,000 Fixed selling and administrative expenses 120,000 During its first year of operations, Obrien produced 100,000 units and sold 80,000 units. During its second year of operations, it produced 75,000 units and sold 90,000 units. In its third year, Obrien produced 80,000 units and sold 75,000 units. The selling price of the companys product is $75 per unit. Required: 1. Assume the company uses variable costing and FIFO inventory flow assumption (FIFO) a. Compute the unit product cost for year1, Year 2, Year 3. b. Prepare an income statement for Year1, Year2, Year3. 2. Assume the company uses variable costing and a LIFO inventory flow assumption a. Compute the unit product cost for Year1, Year2, and Year 3. b. Prepare an income statement for Year11, Year2, Year3. 3. Assume the company uses absorption costing and a FIFO inventory flow assumption a. Compute the unit product cost for Year1, Year2, Year3. b. Prepare an income statement for Year1, Year2, Year#. 4. Assume the company uses absorption costing and a LIFO inventory flow assumption LIFO. a. Compute the unit product cost for Year1, Year2, Year3. b. Prepare an income statement for Year1, Year2, Year3