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 plant's operation: Beginning inventory Units produced Units sold Selling price per unit Selling and adminiatrative expennen: 44,000 39,000 Variable per unit Pixed (per month) Manufacturing costnt 565,000 Direct materials coat per unit 18 Direct labor cost per unit Variable manufacturing overhead cost per unit $ Fixed nanufacturing overhead cost (per month) 748,000 Management is anxilous to assess the profitablity of the new camp cot during the month of M 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 unlt product cost. b. Prepare an income statement for May. 2. Assume that the company uses variable costing a. Determine 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 1A Rea 18 Req 2A Req 2B Determine the unit product cost. Assume that the company uses absorption costing. Req 18