High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to and revenue data relate to May, the first month of the plant's operation Units produced Units sold Selling price per unit Selling and administrative expenses 50,000 45,000 $84 Variable per unit Fixed per month $3 $ 561,000 Manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 950,000 $16 $9 $1 Management is anvious to see how profitable the new camp cot will be and has asked that an income statement be prepared for May Required: 1. Assume that the company uses absorption costing a. Determine the unit product cost product cost b. Prepare an income statement for May High Country, Inc. Absorption Costing Income Statement