FastRide Inc. manufactures and sells 50-inch television sets and uses standard costing. Actual data and variable costing and absorption costing statements of comprehensive income relating to January, February, and March of 2018 are as follows. (Click to view the data.) (Click to view the variable costing statements of comprehensive income.) (Click to view the absorption costing statements of comprehensive income.) The variable manufacturing costs per unit of FastRide Corporation are as follows. (Click to view the variable manufacturing costs per unit.) Required X 1. Prepare operating statements of comprehensive income for January, February, and March of 2018 under throughput costing. Data table 2. Contrast the results in requirement 1 with the absorption and variable costing statements of comprehensive income presented. 3. Give one motivation to adopt throughput costing. January February March Unit data: Beginning inventory 0 150 50 Requirement 1. Prepare operating statements of comprehensive income for January, February, and March of 2018 under throughput costing. Production 900 825 1,300 First complete the top portion of the statement and then the bottom portion of the statement. (Enter an amount in all input areas.) Sales 750 925 1,000 January 2018 February 2018 March 2018 Variable costs: Revenue 2,400,000 2,960,000 3,200,000 Manufacturing cost per unit produced $ 1,100 $ 1,100 $ 1,100 Direct materials in goods manufactured Operating (marketing) cost per unit sold 575 575 $ 575 Beginning inventory Fixed costs: Variable direct materials costs Manufacturing costs 380,000 $ 380,000 $ 380,000 Cost of goods available for sale Operating (marketing) costs 155,000 155,000 155,000 Deduct ending inventory The selling price per unit is $3,200. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 900 units. There are no price, efficiency, or rate variances. Any production-volume variance is written off to cost of goods sold in the month in Throughput contribution which it occurs. Print DoneData table X January 2018 February 2018 March 2018 Revenue $ 2,400,000 $ 2,960,000 $ 3,200,000 Variable costs: Beginning inventory 0 165,000 $ 55,000 Variable manufacturing costs 990,000 907,500 1,430,000 Cost of goods avail for sale 990,000 1,072,500 1,485,000 Less: Ending inventory (165,000) (55,000) (385,000) Variable cost of goods sold 825,000 1,017,500 1,100,000 Variable operating costs 431,250 531,875 575,000 Total variable costs 1,256,250 1,549,375 1,675,000 Contribution margin 1,143,750 1,410,625 1,525,000 Variable costs: Fixed manufacturing costs 380,000 380,000 380,000 Fixed operating costs 155,000 155,000 155,000 Total fixed costs 535,000 535,000 535,000 Operating income $ 608,750 875,625 $ 990,000Data table Revenue Cost of goods sold: Beginning inventory Variable mg costs Allocated fuced mltg costs Cost of goods avail for sale Less: Ending inventory Adjust for prod-volume var Cost of goods sold Gross margin Operating costs: Variable operating costs Fixed operating costs Total operating costs Operating income January 2010 0 990.000 300.000 1.3?0.000 {223.300} 0 431.250 155.000 February 2013 3 2.400000 3 223.300 902.500 343.150 1.433.950 (r3100) 31.350 0 1.141.200 1.253.300 531.375 155.000 533.250 322.050 $ $ 2.950.000 1.439.?00 1.520.300 536.3?5 833.425 March 2010 $ 3.200.000 ?6.100 1.430.000 540.500 2.054.?00 {532.700} {150.600}F 1.353.400 1.046.500 575.000 155.000 ?30.000 5 1.116.500 Data table January February March Direct material cost per unit 700 $ 700 $ 700 Direct manufacturing labour cost per unit 110 110 110 Manufacturing overhead cost per unit 290 290 290 $ 1,100 $ 1,100 $ 1,100