High Country, Inc., peoduces and sels 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 565000 Management is anxdous to see how profitable the new camp cot will be and has asked that an income statement be prepared for May Assume that the company uses absorption costing Determine the unit product cost Prepare an income statement for May 2 Assume that the company uses variable costing. Determine the unit product cost Prepare a contribution format income statement for May