Required Information Exercise 6.3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applles to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $130 per unit. Exercise 6-3 (Algo) Part 1a 1a. Assume the company uses absorption costing. Determine its total product cost per unit. Exercise 6.3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applles to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $130 per unit. Exercise 6-3 (Algo) Part 1b b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. 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 42,000 units and sold 34,000 un at a price of $130 per unit. Exercise 6-3 (Algo) Part 2a 2a. Assume the company uses varlable costing. Determine its total product cost per unit. Requlred 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 42,000 units and sold 34,000 units at a price of $130 per unit. Exercise 6-3 (Algo) Part 2b 2b. Assume the company uses varlable costing. Prepare its income statement for the year under varlable costing