Required information [The following information applles to the questions displayed below] Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $150 per unit 1b. Assume the company uses absorption costing. Prepare its income stetement for the year under absorption costing 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 42,000 units and sold 34,000 units at a price of $150 per unit. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing Required information The fottowng information applies to the questions displayed below] Cool Sky reponts the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $150 per unit. 2a. Assume the company uses variable costing. Determine its total product cost per unit. 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 42,000 units and sold 34,000 units at a price of $150 per unit. 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing