Moskowitz Corporation has provided the following data for its two most recent years of operation:       Selling price per unit $ 91       Manufacturing costs:     Variable manufacturing cost per unit produced:     Direct materials $ 13 Direct labor $ 7 Variable manufacturing overhead $ 3 Fixed manufacturing overhead per year $ 480,000 Selling and administrative expenses:     Variable selling and administrative expense per unit sold $ 6 Fixed selling and administrative expense per year $ 84,000    Year 1 Year 2 Units in beginning inventory 0 3,000 Units produced during the year 12,000 10,000 Units sold during the year 9,000 10,000 Units in ending inventory 3,000 3,000  The net operating income (loss) under variable costing in Year 2 is closest to:     $80,000     $56,000     $620,000     $680,000

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! 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: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses 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. 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 80,000 units and sold 99,000 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 $78 per unit. Req 4A 4. Assume the company uses absorption costing and a LIFO inventory flow assumption (LIFO…