High Country, Inc., produces and sells many recreational products. The company has just opened a riew plans to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue dats relate to May, the first month of the plant's operation 49.000 44.000 03 $ Beginning inventory Unico produced Units Bold Selling price per unit Selling and administrative expenses Variable per unit Fixed (per month) Manufacturing cost Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 364.000 $ 16 10 4.980,000 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. b. Prepare a contribution format income statement for May Complete this question by entering your answers in the table below. Red 28 Reg 2A Reg 1A Reg 1B Determine the unit product cost. Assume that the company uses absorption costing Unut product cost Reg 18 > 564.000 Fixed per month Manufacturing coats Direct materials cost per unit Direet abot cont permit Variable manufacturing overhead boat per unit Faxed manufacturing overhead cont per month 6 G 16 20 990,000 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. b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Reg 1A Reg 28 Reg 13 Reg 2A Determine the unit product cost. Assume that the company uses absorption costing. Unit product dost Req 18 ) 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. Req ZA Reg 16 Reg 2A Reg 28 Prepare an income statement for May. Assume that the company uses absorption costing. High Country, Inc. Absorption Costing Income Statement Req 2A > 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. Reg 1A Reg 1B Req 2A Reg 28 Prepare a contribution format income statement for May. Assume that the company uses variable casting High Country, Inc. Variable Costing Income Statement