Problem $6-20($Algo$)$ Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income $[$LO$6-1,$ LO$6-2,$ LO$6-3]$ High Country, Incorporated, produces and sells many recreational products. The company 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: 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$)$ Required: $1.$ Assume the company uses absorption costing. a$.$ Calculate the camp cot$\text{'}$s unit product cost. b$.$ Prepare an income statement for May. $2.$ Assume the company uses variable costing. a$.$ Calculate the camp cot$\text{'}$s unit product cost. b$.$ Prepare a contribution format income statement for May. Req $1$A Complete this question by entering your answers in the table below. Req $18050,00045,000$ $ $82$ Req ZA Determine the camp cot$\text{'}$s unit product cost. Assume the company uses absorption costing. Unit product cost Req $28$ $$4$ $ $564,000$ Req $1$A $ $17$ $$7$ $$3$ $ $1,000,000$ Req $1$B $>||$