FastTrack Motors assembles and sells motor behicles and uses standard costing. Actual data and variablr costing and absorption costing income statements relating to April and May 2017 as folows: 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.

amounts) April May 450 Unit data Beginning inventory 50 Production Sales 450 480 Variable costs Manufacturing cost per unit produced $ 9,500 $ 9.500 Operating (marketing) cost per unit sold 2 200 2,200 Fixed costs Manufacturing costs $ 2,250,000 $ 2,250,000 Operating (marketing) costs 625.000 625 000 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 Print Done April 2017 $ 13,500.000 May 2017 S 14.400.000 $ 4,750,000 2.250.000 700.000 4,275.000 2,025.000 7.000.000 (700,000) 7.000.000 (280,000) 225 000 Revenues Cost of goods sold Beginning inventory Variable manufacturing costs Allocated foxced manufacturing costs Cost of goods available for sale Less Ending inventory Adjustment for production-volume variance Cost of goods sold Gross margin Operating costs Variable operating costs Fixed operating costs Total operating costs Operating income 6,300,000 6,945.000 7.200.000 7.455.000 990.000 625 000 1056000 625.000 1000 1 515.000 $5585 000 55.774.000 Print Print Done Done 1 Data Table May Direct material cost per unit Direct manufacturing labor cost per unit Manufacturing overhead cost per unit April 7,100 $ 1.100 1,300 7100 1 100 1,300 Print Done amounts) April May 450 Unit data Beginning inventory 50 Production Sales 450 480 Variable costs Manufacturing cost per unit produced $ 9,500 $ 9.500 Operating (marketing) cost per unit sold 2 200 2,200 Fixed costs Manufacturing costs $ 2,250,000 $ 2,250,000 Operating (marketing) costs 625.000 625 000 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 Print Done April 2017 $ 13,500.000 May 2017 S 14.400.000 $ 4,750,000 2.250.000 700.000 4,275.000 2,025.000 7.000.000 (700,000) 7.000.000 (280,000) 225 000 Revenues Cost of goods sold Beginning inventory Variable manufacturing costs Allocated foxced manufacturing costs Cost of goods available for sale Less Ending inventory Adjustment for production-volume variance Cost of goods sold Gross margin Operating costs Variable operating costs Fixed operating costs Total operating costs Operating income 6,300,000 6,945.000 7.200.000 7.455.000 990.000 625 000 1056000 625.000 1000 1 515.000 $5585 000 55.774.000 Print Print Done Done 1 Data Table May Direct material cost per unit Direct manufacturing labor cost per unit Manufacturing overhead cost per unit April 7,100 $ 1.100 1,300 7100 1 100 1,300 Print Done