Hello! I'm having some trouble with this practice problem. Any help is greatly appreciated! I was able to fill out some of the income statements, but not everything.

1B

2B

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: 43,000 38,000 84 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) $ 2 $ 559,000 $ 14 $ 9 $ 2 $ 645,000 Management is anxious to assess the profitability of the new camp cot during the month of May. Reg 1A Reg 1B Reg 2A Req 2B Prepare an income statement for May. Assume that the company uses absorption costing. High Country, Inc. Absorption Costing Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income $ 0 0 Reg 1A Reg 1B Reg 2A Req 2B Prepare a contribution format income statement for May. Assume that the company uses variable costing. High Country, Inc. Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold Variable selling expenses 0 0 Contribution margin Fixed expenses Fixed manufacturing overhead