Problem 8-12 Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Operating Income [LO1, LO2, LO3] Coverail Inc. produces and selis a unique type of case for a standard size tablet computer that is guaranteed waterproof but still allows for regular functionality of the tablet. The company has just opened a new plant to manufacture these cases, and the foliowing cost and revenue data have been provided for the first month of the plant's operation in the form of a worksheet: Since the new case is unique in design, management is anxious to see how profitable it will be and has asked that an income statement be prepared for the month. Required: 1. Assume that the company uses absorption costing. a. Determine the unit product cost b. Prepare an income statement for the month, (Do not leave any empty spaces; input a 0 wherever it is required.) 2. Assume that the company uses variable costing. a. Determine the unit product cost. b. Prepare a contribution format income statement for the month. (Do not leave any empty spaces; input a 0 wherever it is required.)