Required information

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O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first

three years of operations:

During its first year of operations, O'Brien produced $91,000$ units and sold $70,000$ units. During its second year of

operations, it produced $79,000$ units and sold $95,000$ 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 $$76$ per unit.

Assume the company uses absorption costing and a FIFO inventory flow assumption $($FIFO means first$-$in first$-$out. In other words, it

assumes that the oldest 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 $3.$