Required information Exercise 6-3 (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 46,000 units and sold 38,000 units at a price of $150 per unit Exercise 6-3 (Algo) Part 1a 10. Assume the company uses absorption costing. Determine its total product cost per unit. Exercise 6.3 (Algo) Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing Exercise 6-3 (Algo) Part 2a 20. Assume the company uses variable costing. Determine its total product cost per unit. Exercise 6.3 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing