Vaciable selling and administrative expenses fixed selling and administrative expenses: Exercise 19.3 (Algo) Part 2a 2a. Assume the company uses varlable costing. Determine its total product cost per unit. Exercise 19.3 (Algo) Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Exercise 19.3 (Algo) Part 1a 1a. Assume the company uses absorption costing. Determine its total product cost per unit. Exercise 19-3 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. Required information Exercise 19.3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [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 soid 34,000 units at a price of $120 per unit. Exercise 19.3 (Algo) Part 1a 1a. Assume the company uses absorption costing. Determine its total product cost per unit