High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May plant's operation: 45 00 41.00 Beginning Inventory Units produced Uits sold Selling price per unit Selling and administrative expenses Variable per unit Fixed per month Manufacturing costs Direct materials Last ser un Direct Lacon est en und Verile manufacturine owerhead as per unit FESA Luring overad ust Kuer month SEE 208 10 S 7 $ 12 $ 680 e 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 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. Red 1 Rea 1 Hea 2 Red 28 Determine the unit product cost. Assume that the company eses absorption costing. preunt as 5 38 Req 18>