High Country, Inc., produces 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 plants operation:

Prepare a contribution format income statement for May.

Beginning inventory		0
Units produced		40,000
Units sold		35,000
Selling price per unit	$	78
Selling and administrative expenses:
Variable per unit	$	3
Fixed (per month)	$	564,000
Manufacturing costs:
Direct materials cost per unit	$	15
Direct labor cost per unit	$	8
Variable manufacturing overhead cost per unit	$	1
Fixed manufacturing overhead cost (per month)	$	720,000