Required information [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 $150 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 66 per unit $25 per unit $9 per unit $572,000 per year $11 per unit $ 105,000 per year 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Income Statement (Absorption Costing) 4 Required information [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 $150 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses. $ 66 per unit $25 per unit $9 per unit $572,000 per year $11 per unit $ 105,000 per year 26. Assume the company uses variable costing. Determine its total product cost per unit Per unit product cost using: Total product cost per unit, Variable costing K Required information [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 $150 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 66 per unit $ 25 per unit $9 per unit $572,000 per year $11 per unit $ 105,000 per year 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. Income Income Statement (Variable Costing)