if you are writing the answers on a paper and you scan it after I would really appreciate it if the handwriting is clear enough to read, if possible show a step by step solution(would really appreciate it)

High Country, Inc. produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed through the United States. The following cost and revenue data relate to Mav the first month of the nlant's nneration: 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 3. Explain the reason for any difference in ending inventory balances under the costing methods and impact of this difference on reported net operating income