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 Stales. The following cost and revenue data relate to May, the first month of the plant's operation: Management is arxious to assess the profitablity 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 varlable costing. a. Determine the unit product cost b. Prepare a contribution format income statement for May Management is anxious to assess the profitablity of the new camp cot during the month of May. Required: 1. Assume that the compony 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. Detemine the unit product cost. b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Determine the unit product cost. Assume that the company uses absorption costing 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 variabie 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. Prepare an income statement for May. Assume that the company uses absorption costing 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 3. 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 ihcome statement for May. Complete this question by entering your answers in the table below. Determine the unit product cost. Assume that the company uses variable costing Complete this question by entering your answers in the table below. Prepare a contribution format income statement for May. Assume that the company uses variable costing