Question 1 Fresh Air Products manufactures and sells a variety of camping products. Recently the company opened a new plant to manufacture a deluxe portable cooking unit. Cost and sales data for the firs month of operations are shown below: O units Beginning inventory Units produced 10,000 8,700 Units sold Manufacturing costs Fixed overhead Variable overhead $90,000 $7 per unit $11 per unit $25 per unit Direct labour Direct material Selling and administrative costs Fixed $199,700 $3 per unit sold Variable The portable cooking unit sells for $111. Management is interested in the opening month's results and has asked for an income statement. Assuming the company uses absorption costing: (b) Prepare an absorption-costing income statement for the first month of operation. Fresh Air Products Income Statement-Absorption Costing For the first month of operations