Help Save & Exit Sub 2 Check my work 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 10 points 10,000 26,000 95 $ eBo Teginning inventory Units produced Unite sold Selling price per unit Selling and administrative expenses Variable per unit Fixed (total) Manufacturing costs Direct materialet per unit Diret labour cost per hit Variable manufacturing overhead cont per unit Pixed manufacturing overhead coat (total) P $ 11 672,000 . 16 . 12 1 6 11.068,000 Rece Since the new case is unique in design, management is arous 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. Untit $ 62 b. Prepare an income statement for the month (Do not leave any empty spaces input a O wherever it is required) 2 Return to question b. Prepare an income statement for the month. (Do not leave any empty spaces: input a wherever it is required.) Answer is complete but not entirely correct. $ 2.280.000 $ Sales Cost of goods sold Beginning inventory Add: Cost of goods manufactured Goods available for sale Less Ending inventory Gross margin Selling and administrative expense Operating loss OOOOO 2,356,000 2.356.000 2,350,000 0 2.280.000 936.000 51344.000 2. Assume that the company uses variable costing a. Determine the unit product cost. Answer is complete and correct. e um product COSL Unit product cost $ 34 10 points BOOK b. Prepare a contribution format income statement for the month. (Do not leave any empty spaces; input a wherever it is required) Print References 0 Sales Variable expenses Variable cost of goods sold Beginning inventory Add Variable manufacturing costs Goods available for sale Less Ending inventory Variable cost of goods sold Variable saling expense Contribution margin Fixed expenses Fixed Manufacturing overhead Fored selling and administrative expense Operating loss 0 0 0 O 5