$(12$ points$)$ Penny Black $Ltd.,$ which has only one product, has provided the following

data concerning its most recent month $of$ operations:

Selling price

Units $in$ beginning inventory

Units produced.

Units sold

Units $in$ ending inventory

Variable costs per unit:

Direct materials

Direct labor

Variable manufacturing overhead.

Variable selling and administrative

Fixed costs $(in$ total$)$:

Fixed manufacturing overhead

Fixed selling and administrative.

$$112$

$0$

$25,100$

$22,320$

$2,780$

$0$

$$156,875$

$$125,000$

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 $an$ income statement for the month using the contribution format and

the variable costing method.

$d.$ Prepare $an$ income statement for the month using the traditional format and

the $absorption$ costing method.