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High Country, Inc., produces and sells many recreational products. The company has just opened a new...

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: Beginning inventory 0 Units produced 43,000 Units sold 38,000 Selling price per unit $ 76 Selling and administrative expenses: Variable per unit $ 2 Fixed (per month) $ 556,000 Manufacturing costs: Direct materials cost per unit $ 16 Direct labor cost per unit $ 7 Variable manufacturing overhead cost per unit $ 2 Fixed manufacturing overhead cost (per month) $ 731,000 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.

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High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 36,000 Units sold 31,000 Selling price per unit $ 77 Selling and administrative expenses: Variable per unit $ 3 Fixed (per month) $ 561,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 46,000 Units sold 41,000 Selling price per unit $ 80 Selling and administrative expenses: Variable per unit $ 3 Fixed (per month) $ 564,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 40,000 Units sold 35,000 Selling price per unit $ 78 Selling and administrative expenses: Variable per unit $ 4 Fixed (per month) $ 557,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 46,000 Units sold 41,000 Selling price per unit $ 75 Selling and administrative expenses: Variable per unit $ 4 Fixed (per month) $ 561,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 37,000 Units sold 32,000 Selling price per unit $ 80 Selling and administrative expenses: Variable per unit $ 2 Fixed (per month) $ 565,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 38,000 Units sold 33,000 Selling price per unit $ 82 Selling and administrative expenses: Variable per unit $ 3 Fixed (per month) $ 563,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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 related to May, the first month of the plant’s operation: Beginning inventory 0 Units produced 47,000 Units sold 42,000 Selling price per unit $ 85 Selling and administrative expenses: Variable per unit $ 2 Fixed (per month) $ 561,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 46,000 Units sold 41,000 Selling price per unit $ 79 Selling and administrative expenses: Variable per unit $ 3 Fixed (per month) $ 557,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 47,000 Units sold 42,000 Selling price per unit $ 76 Selling and administrative expenses: Variable per unit $ 2 Fixed (per month) $ 564,000 Manufacturing costs: Direct materials...
High Country, Inc., produces and sells many recreational products. The company has just opened a new...
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: Beginning inventory 0 Units produced 40,000 Units sold 35,000 Selling price per unit $ 76 Selling and administrative expenses: Variable per unit $ 4 Fixed (per month) $ 567,000 Manufacturing costs: Direct materials...
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