, High Country, Incorporated, 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 plant's operation: Beginning inventory Units produces Units sold Selling price per unit Selling and administrative expenses Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit Wook Direct labor cost per unit Variable manufacturing overhead cost per unit 10,000 0,000 $75 50 $ 200,000 $20 52 $100,000 ances Fixed manufacturing overhead cost (per month)) 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. Calculate the unit product cost b. Prepare an income statement for May 2. Assume that the company uses variable costing. a Calculate the unit product cost b. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Reg 1A Req 181 Req2A Req 28 Determine the unit product cost. Assume that the company uses absorption costing Usit product cint Save & Exit Submit