1 Problem 6-20 (Algo) Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income (L06-1, LO6-2, LO6-3) 4 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 dato relate to May, the first month of the plant's operation: 30,000 33.000 5 565,000 beginning Inventory units produced Units sold Selling price per unit Selling and administrative expenses Vartible per unit Fixed (per nonth) manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost personth) $ 16 1 10 5 $ 600,000 Management is anxious to assess the profitability of the new camp cot during the month of May. Required: 1 Assume that the comAW USA absorption contina HED SAVE sut You skipped this question in the previous attempt Check my w 1 points 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. Calculate the unit product cost b. Prepare an income statement for May. 2. Assume that the company uses variable costing a Calculate the unit product cost b. Prepare a contribution format income statement for May Complete this question by entering your answers in the table below. Reg 1A Reg 18 Reg 2A Reg 28 Determine the unit product cost. Assume that the company uses absorption costing. Unit productos Reg 1B >