1 High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation 50 points 0 45,000 40.000 84 Skoped Beginning inventory Units produced Units sola Selling price per unit Selling and administrative expenses Variable per unit Fixed per month) Manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cont per unit Find manufacturing overhead coat (per month) 4 $ 557,000 1 15 $ 9 $ 1 $ 675,000 Print References Management is anxious to assess the profitability of the new camp cot during the month of May Required: 1 Assume that the company uses absorption costing a. Calculate the unit product cost. b. Prepare an income statement for May 2. Assume that the company uses variable costing 6. Calculate the unit product cost b. Prepare a contribution format income statement for May Complete this question by entering your answers in the table below. RIA Req 10 Reg 2A Reg 20 Determine the unit product cost. Assume that the company wites absorption costing Unit product cost Reg 10 >