Hon Country in produces and we many recitation produce. The company has just correda new part to produce a un Carto cot that will be marketed throughout the United St. The following glig vetary le Selline et selling driver breweriale cout treet per Management is to assess the profitability of cam dugo May 1. Assume that the company es aption costing a. Determine the productos Prepare an income statement for May 2. Assume that the communes variable con a. Determine the product cost Prepare a contribution format income for My Complete this question by entering your answer is the tale BIA Determine the products that the company RIA R16 Reg 2 028 Prepare an income statement for Hay asume that the many option cong High Country Absorption Costing Determine the unit product cost. Assume that the company es variable couting Unit product cost Reg 1A Reg 1B Reg 2A R20 Prepare a contribution format income statement for May. Assume that the company uses variable costing High Country. Inc Variable Costing Income Statement High Country, Inc.. produces and sells many recreational products. The company has just opened a new plant to produce a fold camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May. the first month plant's operation: e 50,000 45,000 76 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (per month) 5 3 $ 561,000 $ 18 $ 7 $ 2 $ 750,000 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. Reg 1A Reg 1B Reg 2A Req 28 Determine the unit product cost. Assume that the company uses absorption costing. Unit product cost Req 1A Reg 1B Req 2A Req 2B Prepare an income statement for May. Assume that the company uses absorption costing. High Country, Inc. Absorption Costing Income Statement