FastTrack 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 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 FastTrack Corporation are as follows. E (Click to view the variable manufacturing costs per unit.) Required 1. Prepare operating statements of comprehensive income for January, February, and March under throughput costing. 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. Requirement 1. Prepare operating statements of comprehensive income for January, February, and March under throughput costing. First, complete the top portion of the statement and then the bottom portion of the statement. (Enter an amount in all input areas.) January February March Revenue X Data table January February March 0 100 25 1,100 1,000 1,000 1,000 1,000 1,075 Unit data: Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ 1,200 1,200 $ 525 1,200 $ 525 $ 525 $ 410,000 $ 130,000 410,000 $ 130,000 410,000 130,000 The selling price per unit is $3,600. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,100 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 which it occurs. Print Done Data table March January $ 3,600,000 February $ 3,870,000 Revenue $ 3,600,000 Cost of goods sold: $ 0 $ Beginning inventory Variable mftg costs 1,320,000 410,000 157,300 1,200,000 373,000 39,325 1,200,000 373,000 Allocated fixed mftg costs Cost of goods avail for sale Less Ending inventory 1,612,325 1,730,000 (157,300) 1,730,300 (39,325) 37,000 U (39,325) 37,000 0 Adjust for prod-volume var 1,572,700 1,727,975 1,610,000 Cost of goods sold Gross margin 2,027,300 2,142,025 1,990,000 Operating costs: Variable operating costs 525,000 130,000 564,375 130,000 525,000 130,000 Fixed operating costs Total operating costs 655,000 694,375 655,000 $ 1,372,300 $ 1,447,650 $ 1,335,000 Operating income Print Done . Data table March January February 720 $ 720 $ $ 720 Direct material cost per unit Direct manufacturing labour cost per unit Manufacturing overhead cost per unit 130 130 130 350 350 350 $ 1,200 $ 1,200 $ 1,200 Print Done