FastRide Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2020 are as follows: B (Click the icon to view the data.) The selling price per vehicle is $22,000. 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 2020 income statements for FastRide Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2020 income statements for FastRide Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) April 2020 May 2020 Revenues Variable cost of goods sold: Beginning inventory Variable manufacturing costs Cost of goods available for sale Deduct ending inventory Variable cost of goods sold Variable operating costs Contribution margin Data Table A B 1 April May 2 Unit data: 3 Beginning inventory 0 100 4 Production 400 350 5 Sales 300 410 6 Variable costs: 7 Manufacturing cost per unit produced $ 8,500 $ 8,500 8 Operating (marketing) cost per unit sold 2,600 2,600 9 Fixed costs: 10 Manufacturing costs $ 2,400,000 $2,400,000 11 Operating (marketing) costs 675,000 675,000 Print Done