Salem, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view the data.) Read the requirements. Requirement 1. Using absorption costing, calculate the unit product cost. (Round your final answer to the nearest cent.) Absorption costing Unit product cost Requirement 2. Prepare an income statement using the traditional format. Salem, Inc. Income Statement (Absorption Costing) For the Month Ended November 30 Operating Income Requirements Data table Units produced and sold Sales price 550 units $275 per unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 62 per unit 52 per unit 18 per unit 9,900 per month 10 per unit 4,800 per month 1. Using absorption costing, calculate the unit product cost. 2. Prepare an income statement using the traditional format. Print Done