Required information The following information applies to the questions displayed below.) O'Brien Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations 18 Variable costs per unit Manufacturing Direct materials Direct labor Variable manufacturing over head Variable selling and administrative Fixed conto per year. Tixed manufacturing overhead Fixed welling and administrative expenses $ $ $580,000 $100,000 During its first year of operations, O'Brien produced 96,000 units and sold 75,000 units. During its second year of operations, it produced 80,000 units and sold 96,000 units. In its third year, O'Brien produced 90,000 units and sold 85,000 units. The selling price of the company's product is $79 per unit. 4. Assume the company uses absorption costing and a LIFO inventory flow assumption (LIFO means last-in first-out. In other words, it assumes thathe newest 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. Complete this question by entering your answers in the tabs below. Help yot veu. PUULUU UUUUUCHU SUU YUVU ILS U SULUHU YO operations, it produced 80,000 units and sold 96,000 units. In its third year, O'Brien produced 90,000 units and sold 85,000 units. The selling price of the company's product is $79 per unit. 4. Assume the company uses absorption costing and a LIFO inventory flow assumption (LIFO means last-in first-out. In other words, it assumes that the newest 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 Complete this question by entering your answers in the tabs below. Reg 4 Req 4B Compute the unit product cost for Year 1, Year 2, and Year 3. (Round your intermediate calculations and final answers to 2 decimal places) Unit Product Cost Year 1 Year 2 Year 3 ROGA Req48 Current Openinga... mage result for pl... Add/Drop Classes Netflix Q FOCU Eagle Access Modules W. 125 Great available Help Luty Type HS, ne pluu EU bouw SU DVI / VU mmg I DELU U operations, it produced 80,000 units and sold 96,000 units. In its third year , O'Brien produced 90,000 units and sold 85,000 units. The selling price of the company's product is $79 per unit. 4. Assume the company uses absorption costing and a LIFO inventory flow assumption (LIFO means tast-in first-out. In other words, it assumes that the newest 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. Complete this question by entering your answers in the tabs below. Reg 4 Reg 40 Prepare an income statement for Year 1 Year 2, and Year 3. (Round your intermediate calculations to 2 decimal places.) O'Brien Company Absorption Costing Income Statement Year 1 Year 2 Year 3
