Chapter 4 Stay Safe Supplies Stay Safe Supplies has started manufacturing and selling lightweight facemasks. Stay Safe has the following cost and revenue data from December, the first month of facemask production: Inventory (Units) Beginning Inventory Quantity Produced Quantity Sold Variable Selling & Administrative Expense (per unit) Fixed Selling & Administrative Expense (Total) $ $ 0.50 200,000 250,000 225,000 Sales price / unit $ 12 Manufacturing Costs: Direct material cost (per unit) Direct labor cost (per unit) Variable manufacturing overhead (per unit) Fixed manufacturing overhead (total) $ $ $ $ 1.50 2.00 1.50 350,000 Assume that the company uses variable costing. 1) What is the unit product cost? 2) Prepare an income statement for December