Johnson, Inc has collected the following data for November (there are no beginning inventories):

Data Table

Units produced and sold 350 Units

Sales price $350 per unit

Direct materials 45 per unit

Direct labor 58 per unit

Variable manufacturing overhead 20 per unit

Fixed manufacturing overhead 5,775 per month

Variable selling and administrative costs 25 per unit

Fixed selling and administrative costs 4,450 per unit

1. Using variable costing, calculate the unit product cost

2. Prepare an income statement using the contribution margin format