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Audiophonics Limited manufactures and sells high - quality and durable ear buds for use with personal electronics that are custom moulded to each customer's ear.

Audiophonics Limited manufactures and sells high-quality and durable ear buds for use with personal electronics that are custom
moulded to each customer's ear. Cost data for the product follow:
The product sells for $63 per unit. Production and sales data for May and June, the first two months of operations, are as follows:
Income statements prepared by the Accounting Department using absorption costing are presented below:
Required:
Determine the unit product cost under each of the following methods.
a. Absorption costing
b. Variable costing
Prepare variable costing income statements for May and June using the contribution approach. (Do not leave any empty spaces;
input a 0 wherever it is required.)
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