Cool Ride Motors assembles and sells 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 $27,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 400 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 Cool Ride Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2017 income statements for Cool Ride 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 a "0 for any zero balance accounts) April 2017 May 2017 6750000 12150000 Revenues Variable cost of goods sold Variable operating costs 1080000 600000 650000 650000 Fixed operating costs Choose from any list or enter any number in the input fields and then click Check Answer Data Table May April Unit data: Beginning inventory 0 150 Production 400 300 Sales 250 410 Variable costs nt Manufacturing cost per unit produced 8,000 $ 8,000 Operating (marketing) cost per unit sold 3,600 3,600 Fixed costs: Manufacturing costs $ 2,000,000 $ 2,000,000 Operating (marketing) costs 550,000 550,000 X\ i Requirements er xe 1. Prepare April and May 2017 income statements for Cool Ride 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