1. Assume the company uses absorption costing: a. Calculate the camp cot's unit product cost: b. Prepare an income statement for May. 2. Assume the company uses variable costing. a. Calculate the camp cot's unit product cost b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Determine the camp cot's unit product cost, Assume the company uses yor able costing. Complete this question by entering your answers in the table below. Complete this question by entering your answers in the table below. Prepare an income atatement for Moy. Assume the cempany uses absorption costing. High Country, Incorporated, produces and sells many recieat onal products. The company just opened a new plant to prociuce a folding camp cot that wi I be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation. requifec: 1. Assume the company uses absorption costing: a. Calculate the camp cor's unit product cost b. Piepare on income statement for May. 2. Assume the company uses variable costing b. Calculate the comp cots unit product cost b. Prepare a contribution format income statement for May complate this question by entering vour answers in the table below