Nelson Corporation, which has only one product, has provided the following data conceming its most recent month of operations: 104 Selling price Units Units produced Units sold beginning inventory 320 6,860 6,220 960 Units in ending inventory per unit: Direct materials 41 Direct labor Variable manufacturing overhead Variable selling and administrative 20 2 11 Fived manufacturing overhead 137.200 43,540 Fixed selling and administrative The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month Required: a. Prepare a contribution format income statement for the month using variable costing. Unit product cost under variable costing: Direct materials Direct labor Variable manufacturing overhead Variable costing unit product cost Nelson Corporation Variable Costing Income Statement Variable expenses: Fixed expenses: JUN income statement for the month using absorption costing. b. Prepare an Unit product cost under absorption costing: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead cost Absorption costing unit product cost Nelson Corporation Absorption Costing Income Statement Total