Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for \$736. Selected data for the company's operations last year follow: Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $840. Selected data for the company's operations last year follow: The absorption costing income statement prepared by the company's accountant for last year appears below: Required: 1. Under absorption costing. how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. Prepare an income statement for last year using variable costing. Complete this question by entering your answers in the tabs below. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. Prepare an income statement for last year using variable costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for last year using variable costing. 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: 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. Determine the unit product cost. Assume that the company uses absorption costing. Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (per month) Management is anxious to assess the profitability of the new camp cot during the 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. Prepare an income statement for May. Assume that the company uses absorption c nagement is anxious to assess the profitability of the new camp cot during the quired: issume that the company uses absorption costing. Calculate the unit product cost. Prepare an income statement for May. Assume that the company uses variable costing. Calculate the unit product cost. Prepare a contribution format income statement for May. Complete this question by entering your answers in the table below. Determine the unit product cost. Assume that the company uses variable costing. 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. Prepare a contribution format income statement for May. Assume that the company uses variable costing