Audiophonics Limited manufactures and selis high-quality and durable ear buds for use with personal electronics that are custom moulded to each customer's ear. Cost dota for the product follow. The product sells for $61 per unit. Production and sales data for May and June, the first two months of operations, are as follows. ncome statements prepared by the Accounting Department using absorption colying are presented below: Income statements prepared by the Accounting Department using absorption costing are presented below: Required: 1. Determine the unit product cost under each of the following methods. 2. Prepare variable costing income statements for May and June using the contribution approach. (Do not leave any empty space input a o wherever it is required.) 3. Reconcile the variable costing and absorption costing operating income flgures. (Loss amounts should be indicated with a mint sign.) 4. This part of the question is not part of your Connect assignment