Required information Exercise 6-3 (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 44,000 units and sold 36,000 units at a price of $120 per unit. $ 48 per unit Direct materials Direct labor $ 18 per unit Variable overhead $6 Fixed overhead $ 440,000 per unit per year per unit per year Variable selling and administrative expenses Fixed selling and administrative expenses $12 $ 115,000 Exercise 6-3 (Algo) Part 1a 1a. Assume the company uses absorption costing. Determine its total product cost per unit. Per unit product cost using: Absorption costing Total product cost per unit ! Required information Exercise 6-3 (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 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor $ 48 per unit $ 18 per unit Variable overhead $6 per unit Fixed overhead $ 440,000 per year. $ 12 per unit Variable selling and administrative expenses Fixed selling and administrative expenses $ 115,000 per year. Exercise 6-3 (Algo) Part 1b 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Income Statement (Absorption Costing) 0 $ 0 Required information Exercise 6-3 (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 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor Variable overhead $ 48 per unit $ 18 per unit $6 per unit per year Fixed overhead $ 440,000 $ 12 per unit Variable selling and administrative expenses Fixed selling and administrative expenses $ 115,000 per year. Exercise 6-3 (Algo) Part 2a 2a. Assume the company uses variable costing. Determine its total product cost per unit. Per unit product cost using: Variable costing Total product cost per unit ca Ch Help Required information. Exercise 6-3 (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 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor Variable overhead $ 48 per unit $ 18 per unit $6 per unit $ 440,000 per year $12 per unit Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 115,000 per year Exercise 6-3 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. Income Statement (Variable Costing) Income m