Data table Unit data: Beginning inventory Production Sales Variable costs: April May 0 50 700 650 650 680 Manufacturing cost per unit produced $ 12,000 12,000 Operating (marketing) cost per unit sold 2,000 2,000 Fixed costs: Manufacturing costs $ 2,100,000 $ 2,100,000 Operating (marketing) costs 500,000 500,000 The selling price per vehicle is $22,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 700 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. variable costing income statements Revenues Variable costs: April 2017 $ 14,300,000 May 2017 $ 14,960,000 Beginning inventory $ 0 $ 600,000 Variable manufacturing costs 8,400,000 7,800,000 Cost of goods available for sale 8,400,000 8,400,000 Less: Ending inventory (600,000) (240,000) Variable cost of goods sold 7,800,000 8,160,000 1,300,000 1,360,000 Variable operating costs Total variable costs 9,100,000 9,520,000 Contribution margin 5,200,000 5,440,000 Fixed costs: Fixed manufacturing costs 2,100,000 500,000 Fixed operating costs 2,100,000 500,000 2,600,000 Total fixed costs $ 2,600,000 2,600,000 $ 2,840,000 Operating income absorption costing income statements Revenues Cost of goods sold: Beginning inventory April 2017 May 2017 $ 14,300,000 $ 14,960,000 0 $ 750,000 Variable manufacturing costs 8,400,000 7,800,000 2,100,000 1,950,000 Allocated fixed manufacturing costs Cost of goods available for sale 10,500,000 10,500,000 Less: Ending inventory (750,000) Adjustment for production-volume variance 0 (300,000) 150,000 U 9,750,000 10,350,000 Cost of goods sold Gross margin 4,550,000 4,610,000 Operating costs: Variable operating costs 1,300,000 500,000 Fixed operating costs 1,360,000 500,000 1,800,000 Total operating costs Operating income $ 2,750,000 1,860,000 $ 2,750,000 I Data table April May Direct material cost per unit $ 6,800 $ 6,800 Direct manufacturing labor cost per unit 1,000 1,000 Manufacturing overhead cost per unit 4,200 4,200 Requirements 1. Prepare income statements for FastRide Motors in April and May 2017 under throughput costing. 2. Contrast the results in requirement 1 with the absorption and variable costing income statements presented. 3. Give one motivation for FastRide Motors to adopt throughput costing. Requirement 1. Prepare income statements for FastRide 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.) Revenues April 2017 May 2017