Accelerate Motors assembles and sols motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: Click the icon to view the data.) The selling price per vehicle is $26,000. The budgeted level of production used to calculate the budgeted foed manufacturing cost per unit is 500 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements Requirement 1. Prepare April and May 2017 Income statements for Accelerate Motors under (a) variablo cotting and (b) absorption conting (a) Prepare April and May 2017 income statements for Accelerate Motors under variable costing. Complete the top half of the income statement for each month first then complete the bottom portion (Complete all answer boxes Enter for any balance accounts) April 2017 May 2017 Revenues 11.700.000 12 220.000 Variable cost of goods sold Beginning inventory 620.000 6,200,000 5.580.000 0 Chak Answer Accelerate Motors assembles and sels motor vehicles and uses standard costing, Actual data relating to April and May 2017 are as follows: Click the icon to view the data.) The selling price per vehicle is $26,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 500 units. There are price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. Variable cost of goods sold: Beginning inventory 620,000 6,200,000 5,580,000 Variable manufacturing costs Cost of goods available for sale Deduct ending inventory Variable cost of goods sold H. Variable operating costs Contribution margin Choose from any list of enter any number in the input fields and then click Check Answer LOH Check Answer Clear All 7 remaining NNE can 00. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per OCCU i Requirements lel 1. Prepare April and May 2017 income statements for Accelerate Motors under (a) variable costing and (b) absorption costing. 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. id Print Done i Data Table April May Unit data: 0 50 Beginning inventory Production 500 450 Sales 450 470 Variable costs: $ 8,000 $ 8,000 4,000 4,000 Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ 2,200,000 $ 2.200,000 500,000 500,000 Print Done