HW 6 Help 5 10 points eBook 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 50,000 Units sold 45,000 Selling price per unit 50 Selling and administrative expenses Variable per unit ised (per month) $ 562.000 Manutacturing costs Direct materiale cost per unit $ 17 Direct labor cost per unit Variable manufacturing overhead cost per un Fixed manufacturing overhead cont (per month) $ 650,000 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. 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 Prit References Complete this question by entering your answers in the table below. Rea 1 Rea 10 Reg 2A Reg 26 Determine the unit product cost. Assume that the company uses absorption costing Unt product cost Me Graw Hill