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: Beginning inventory $0$ Units produced $41,000$ Units sold $36,000$ Selling price per unit $ $81$ Selling and administrative expenses: Variable per unit $ $4$ Fixed $($per month$)$ $ $557,000$ Manufacturing costs: Direct materials cost per unit $ $17$ Direct labor cost per unit $ $8$ Variable manufacturing overhead cost per unit $ $3$ Fixed manufacturing overhead cost $($per month$)$ $ $779,000$ 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$.$ Determine the unit product cost. b$.$ Prepare an income statement for May. $2.$ Assume that the compan