Coverall Inc. produces and sells a unique type of case for a standard-size tablet computer that is guaranteed waterproof but still allows for regular functionality of the tablet. The company has just opened a new plant to manufacture these cases, and the following cost and revenue data have been provided for the first month of the plant's operation in the form of a worksheet: Beginning inventory Units produced Units sold Selling price per unit 20,000 15,000 80 $ Selling and administrative expenses! Variable per unit $ 6 Fixed (total) $475,000 Manufacturing costs: Direct materials coat per unit $ 12 Direct labour cost per unit $ Variable manufacturing overhead coat $ 5 per unit Fixed manufacturing overhead coat $600,000 (total) Since the new case is unique in design, management is anxious to see how profitable it will be and has asked that an Income statement be prepared for the month Required: 1. Assume that the company uses absorption costing. a. Determine the unit product cost. Unit product cost b. Prepare an income statement for the month. (Do not leave any empty spaces; input a o wherever it is required.) Cost of goods sold: 2. Assume that the company uses variable costing. a. Determine the unit product cost. Unit product cost 1. Prepare a contribution format income statement for the month. (Do not leave any empty spaces; input a o wherever it is required.) Variable expenses: Variable cost of goods sold: Fixed expenses