Qiu Company, which has only one product, has provided the following data concerning its most recent month of operations: 
Required:
a. What is the unit product cost for the month under variable costing?
b. Prepare a contribution format income statement for the month using variable costing.
c. Without preparing an income statement, determine the absorption costing net operating income for the month. (Hint: Use the reconciliation method.)
Definitions:
Book Value
Book value is the net value of a company's assets found on its balance sheet, calculated by subtracting liabilities from the total assets.
Trademark
A symbol, word, or phrase legally registered or established by use as representing a company or product, providing legal protection against infringement.
Exclusive Right
A legal provision that grants someone the sole permission to perform a certain action, like selling a particular product or service.
Literary Work
A work of fiction or nonfiction, published or unpublished, that exists in written or printed form, or in electronic media.
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