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: 45,000 40,000 79 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (per month) 4 566,000 16 $ 900,000 Management is anxious to assess the profitability of the new camp cot during the month of May. b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Req 1A Req 1B Req 2A Req 2B Prepare a contribution format income statement for May. Assume that the company uses variable costing. High Country, Inc. Variable Costing Income Statement Sales 3,160,000 Variable expenses: 3,160,000 3,160,000