$BS High Country. Incorporated 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: Beginning inventory Units produced 36, eee Units sold 31, eee Selling price per unit Selling and administrative expenses: Variable per unit $3 Fixed (per month) $ 561, Manufacturing costs: Direct materials cost per unit $ 16 Direct labor cost per unit $ 9 Variable manufacturing overhead cost per unit $1 Fixed manufacturing overhead cost (per month) $ 684,800 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. a. Calculate the unit product cost. b. Prepare a contribution format income statement for May