A company reported the following information for their first quarter in business. @ 47,00e 42,000 78 $ Beginning inventory Units produced Units sold 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 cost per unit Fixed manufacturing overhead cost (per month) 3 556,880 $ 15 2 $ 893,080 Required: 1. If the company uses absorption costing: a. What is the unit product cost? b. Prepare a traditional income statement for the first quarter. 2. If the company uses variable costing: a. What is the unit product cost? b. Prepare a contribution format income statement for the first quarter. Complete this question by entering your answers in the table belovy Reg 1A Reg 1B Req 2A Reg 2B Prepare a contribution format income statement for the first quarter. Variable Costing Income Statement Quarter 1