Required information Exercise 6.3 (Algo) Income statement under absorption costing and variable costing LO P1, P2. [The foliowing information applies to the questions dispaycd below) Cocl Sky reports the following for its first year of operations. The compary produced 42,000 unts and sold 34,000 units at a price of $110 per unit. Exercise 6-3 (Algo) Part 1o 1a. Assume the compony uses absorption costing. Determine its 1otel nroduct cost per wnit: 1a. Assume the company uses absorption costing. Determine its total product cost per unit Exercise 63 (Algo) Part 16 1b. Assume the company uses absorption costing. Prepare its income statement for the year under abs Exercise 6-3 (Algo) Part 2a 2o. Assume the company uses variable costing. Determine its total product cost per unit - 1. Required information