Homework_ Chapter 6 o 3 points skipped References High Country, Incorporated, produces and sells many recreational products The company hasjust 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 ofthe plant's operation: Beginning inventory 0 Units produced 36,000 Units sold 31,000 Selling price per unit $ 81 Selling and administrative expenses: Variable per unit $ 3 Fixed (per month) $ 557,000 Manufacturing costs: Direct materials cost per unit $ 18 Direct labor cost per unit $ 8 Variable manufacturing overhead cost per unit 5 4 Fixed manufacturing overhead cost (per month) $ 648,000 Management is anxious to assess the protability 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 costingt at 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. Req 1A Req 15 Req 2A Req 25 Saved @: Determine the unit product cost. Assume that the company uses absorption costing. Help Complete this question by entering your answers in the table below. Req 1A Req 1B Req 2A Req 2B Prepare an income statement for May. Assume that the company uses absorption costing. High Country, Incorporated Absorption Costing Income Statement Complete this question by entering your answers in the table below. Req 1A Req 1B Req 2B Determine the unit product cost. Assume that the company uses variable costing. Complete this question by entering your answers in the table below. ces Req 1A Req 1B Req 2A Req 2B Prepare a contribution format income statement for May. Assume that the company uses variable costing. High Country, Incorporated Variable Costing Income Statement