Cool Ride Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable costing and absorption costing income statements relating to April and May 2017 are as follows: E: (Click the icon to view the data.) The variable manufacturing costs per unit of Cool Ride Motors are as follows: (Click the icon to view the variable manufacturing costs per unit.) Read the requirements. E: (Click the icon to view the variable costing income statements.) (Click the icon to view the absorption costing income statements.) Requirement 1. Prepare income statements for Cool Ride Motors in April and May 2017 under throughput costing. Begin by completing the top portion of the statement, then the bottom portion. (Complete all answer boxes. Enter a "0" for any zero amounts.) April 2017 May 2017 Revenues Data Table April May Unit data: Beginning inventory Production 0 50 500 475 Sales 450 495 Variable costs: Manufacturing cost per unit produced $ 12,000 $ 12,000 Operating (marketing) cost per unit sold 2,000 2,000 Fixed costs: Manufacturing costs $ 2,200,000 $ 2,200,000 Operating (marketing) costs 550,000 550,000 The selling price per vehicle is $30,000. The budgeted level of production used to calculate the budgeted fixed 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. April 2017 May 2017 Revenues $ 13,500,000 $ 14,850,000 Variable costs: $ $ Beginning inventory Variable manufacturing costs Cost of goods available for sale 0 6,000,000 600,000 5,700,000 6,000,000 (600,000) 6,300,000 (360,000) Less: Ending inventory Variable cost of goods sold 5,400,000 900,000 5,940,000 990,000 Variable operating costs 6,300,000 6,930,000 7,200,000 7,920,000 Total variable costs Contribution margin Fixed costs: Fixed manufacturing costs Fixed operating costs 2,200,000 550,000 2,200,000 550,000 2,750,000 2,750,000 Total fixed costs $ 4,450,000 $ 5,170,000 Operating income April 2017 May 2017 Revenues $ 13,500,000 $ 14,850,000 Cost of goods sold: Beginning inventory Variable manufacturing costs $ 0 6,000,000 2,200,000 820,000 5,700,000 2,090,000 Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory 8,200,000 (820,000) 8,610,000 (492,000) 110,000 u 7,380,000 8,228,000 Adjustment for production-volume variance Cost of goods sold Gross margin Operating costs: Variable operating costs 6,120,000 6,622,000 900,000 990,000 550,000 550,000 Fixed operating costs Total operating costs 1,450,000 1,540,000 $ 4,670,000 $ 5,082,000 Operating income Data Table April May $ Direct material cost per unit Direct manufacturing labor cost per unit Manufacturing overhead cost per unit 6,800 $ 1,800 3,400 6,800 1,800 3,400 Print Done