7. High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that wll be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses 44.000 39,000 $81 Variable per unit Fixed per month $2 $ 557,000 Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month$6601000 $17 s6 $3 , Management is anxious to see how profitable the new camp cot will be and has asked that an income statement be prepared for May