The S&S Corporation produces and sells one product. The following data refer to the year just completed:

Beginning Inventory0units

Units produced...........................15,000

Units sold......................................8,500

Sales price per unit....................$275

Variable selling and administrative expenses per unit$14

Fixed Selling and administrative expenses (Total)$110,000

Manufacturing Costs:

Direct materials cost per unit..................................................$100

Direct labor cost per unit..........................................................$85

Variable manufacturing overhead cost per unit..............$20

Fixed manufacturing overhead (Total).................................$150,000

Required:

a. What is the unit product cost for the month under variable costing?

b. What is the unit product cost for the month under absorption costing?

c. Prepare contribution format income statement for the year using variable costing.

d. Prepare income statement for the year using absorption costing.