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 plant's operation: Beginning inventory 10,000 Units produced Units sold 8.000 $75 Selling price per unit Selling and administrative expenses $6 Variable per unit Fixed per month $200,000 Manufacturing costs $20 Direct materials cost per unit $8 Direct labor cost per unit Variable manufacturing overhead cost per unit $2 Fixed manufacturing overhead cost per month $100,000 Management is anxious to see how profitable the new camp cot will be and has asked that an income statement be prepared for May