1. (10 points) Penny Black Ltd., which has only one product, has provided the following data concerning its most recent month of operations: selling price $104 0 27,000 21,000 6,000 Variable costs per unit: $32 $23 $8 $5 Variable selling and administrative Fixed costs: Fixed manufacturing overhead $270,000 $150,000 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare an income statement for the month using the contribution format and the variable costing method. Prepare an income statement for the month using the traditional format and the absorption costing method. d