The following cost and revenue data relate to a company's first month of operations. 50,000 45,000 83 $ Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed (per month) Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost (per month) 562,000 non sa 16 $ 950,000 Required: 1. Assume that the company uses absorption costing. a. Determine the unit product cost. b. Prepare an income statement for the first month. 2. Assume that the company uses variable costing. a. Determine the unit product cost. b. Prepare a contribution format income statement for the first month. Complete this question by entering your answers in the table below. Reg 1A Reg 1B Reg 2A Req 2B Determine the unit product cost. Assume that the company uses absorption costing. Unit product cost Complete this question by entering your answers in the table below. Reg 1A Reg 1B Req 2A Reg 2B Prepare an income statement for Month 1. Assume that the company uses absorption costing. Absorption Costing Income Statement Month 1 Complete this question by entering your answers in the table below. Reg 1A Reg 1B Reg 2A Req 2B Determine the unit product cost. Assume that the company uses variable costing. Unit product cost Complete this question by entering your answers in the table below. Reg 1A Reg 1B Req 2A Reg 2B Prepare a contribution format income statement for Month 1. Assume that the company uses variable costing. Variable Costing Income Statement Month 1