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 ember there are no beginning inventories): Data Table the unit product Units produced and sold Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 750 units $350 per unit 53 per unit 80 per unit 14 per unit 12,375 per month the traditional for 10 per unit 5,000 per month Print Done