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 ponu" | w Variable costs per unit: Manufacturing: Direct materials Direct labore Variable manufacturing overhead Variable selling and administrative Fixed costs per yeart Fixed manufacturing overhead Fixed selling and administrative expenses $160, eee During its first year of operations, O'Brien produced 98.000 units and sold 74.000 units. During its second year of operations, it produced 79.000 units and sold 98.000 units. In its third year, O'Brien produced 86.000 units and sold 81.000 units. The selling price of the company's product is $71 per unit. 3. 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