W Ch06 DIUwerelaunchUrl=h 80% Saved 1 High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation: Ints 02:59:07 38,000 33,000 78 S eBook 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 coat (per month S 2 S 560,000 eferences S 17 S 7 $ 3 $ 600,000 Management is anxious to assess the profitability of the new camp cot during the month of May Required: 1. Assume that the company uses absorption costing a. Determine the unit product cost. b. Prepare an income statement for May 2. Assume that the company uses variable costing a. Determine the unit product cost. b. Prepare a contribution format income statement for May Complete this question by entering your answers in the table below. Prev 1 of 1 Next Ai HUL LUIE statement for May. Complete this question by entering your answers in the table below. Req 1A Req 1B Req 2A Req 2B Determine the unit product cost. Assume that the company uses absorption costing. Unit product cost Req 1B > Prev 1 of 1 Ai 02-51:44 men lur May 2. Assume that the company uses variable costing a. Determine the unit product cost. b. Prepare a contribution format income statement for May. eBook References Complete this question by entering your answers in the table below. Req 1A Req Req 2A Req 2B Prepare an income statement for May. Assume that the company uses absorption costing. High Country, Inc. Absorption Costing Income Statement Prev 1 of 1 Next Mc Graw Hill Education DLL LIU De lumpany uses variable costing a. Determine the unit product cost. b. Prepare a contribution format income statement for May eBook References Complete this question by entering your answers in the table below. Req 1A Req 1B Reg Req 2B Determine the unit product cost. Assume that the company uses variable costing. Unit product cost Mc Graw Hill Education 1 of 1