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FastTrack Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2020 are as follows: (Click the icon
FastTrack Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2020 are as follows: (Click the icon to view the data.) off to cost of goods sold in the month in which it occurs. Read the Data table Requirement 1. Prepare April and May 2020 income statements for FastTrack Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2020 income statements for FastTrack Motors under variable costing. Complete the top half of the income statement balance accounts.) Requirements 1. Prepare April and May 2020 income statements for FastTrack Motors under (a) variable costing and (b) absorption costing. 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing
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