High Country, Inc., produce 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 36,00 31,000 76 5 Beginning inventory Units produced Units sold Selling price per unit Selling and ministrative expenses Variable per unit Fixed (personth) Manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit ied aufacturing overhead cost (per month $ 5567,000 5 17 $ 5 $ 576,000 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, 5. Prepare a contribution format income statement for May Complete this question by entering your answers in the table below. 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. Complete this question by entering your answers in the table below. Regin Reg 11 Red 2A Req 28 Determine the unit product cost. Assume that the company uses absorption costing, Droduci cost Req 18 > Complete this question by entering your answers in the table below. og 1A Reg 13 Reg 2A Reg 20 Prepare an income statement for May. Asume that the company uses absorption costing High Country, Inc Absorption Costing Income Statement Complete this question by entering your answers in the table below. Ped 1A Reg 10 2A Reg 28 Determine the unit product cost. Assume that the company uses variable costing Complete this question by entering your answers in the table below. Reg 1 Reg 15 RegZA Reg 28 Prepare a contribution format income statement for May. Assume that the company uses variable costing. High Country. Inc Variable Costing Income Statement