Required information Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below) Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $110 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 42 per unit 5 16 per unit $5 per unit $ 396,000 per year i $ 11 per unit $ 105,000 per year