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 produced 45,000 Units sold 40,000 Selling price per unit Selling and administrative expenses Variable per unit $ 4 Fixed (per nonth) $ 561,000 Manufacturing costs: Direct materials cost per unit $ 14 Direct labor cost per unit 59 Variable manufacturing overhead cost per unit $2 Fixed manufacturing overhead cost (per month) $ 855,000 Management is anxious to assess the profitability the new camp cot during the month of May Required: 1. Assume that the company uses absorption costing. o 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. Rea 1 Reg 13 Red 2A Reg 28 Determine the unit product cost. Assume that the company uses absorption costing. Unit productos KRA Req18 >