Please help solve question (#2, Ch. 4) parts 1 and 2

three years or operations Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses $ $ 3 $ 26 17 4 3 5570,000 $140,000 During its first year of operations, O'Brien produced 92,000 units and sold 74,000 units. During its second year of operations, it produced 77,000 units and sold 90,000 units. In its third year, O'Brien produced 82,000 units and sold 77,000 units. The selling price of the company's product is $72 per unit. 2. Assume the company uses variable costing and a LIFO Inventory flow assumption (LIFO means last-in first-out. In other words, it assumes that 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. ces Req 2A Reg 26 Compute the unit product cost for Year 1, Year 2, and Year 3. Unit Product Casi Year 1 Year 2 Year 3 2 Req 28 ) 2. Assume the company uses variable costing and a LIFO inventory flow assumption (LIFO means last-in first-out. In other words, it assumes that 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. Reg 2A Red 28 Prepare an income statement for Year 1, Year 2, and Year 3. Year 3 O'Brien Company Variable Costing Income Statement Year 1 Year 2 Sales Vanable expenses Variable cost of goods sold Variable selling and administrative 0 D 0 0 0 0 Total variable expenses Contribution margin Fixed expenses Food manufacturing overhead Fixed selling and administrative 0 0 Total foed expenses Net operating income 0 $ 0 $ 0 S