FastTrack Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: BE: (Click the icon to view the data.) The selling price per vehicle is $27,000. 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. Read the requirements. PUTY MIVUITTO - X Data Table x Requirements April May Unit data: 0 100 Prepare April and May 2017 income statements for FastTrack Motors under (a) variable costing and (b) absorption costing. - Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. Beginning inventory Production 500 425 Sales 400 505 Variable costs: Print Done $ 8,500 $ 8,500 Manufacturing cost per unit produced Operating (marketing) cost per unit sold 2,200 2,200 Adjustment for production-volume variance Fixed costs: Cost of goods sold $ 2,400,000 Manufacturing costs Operating (marketing) costs 2,400,000 $ 700,000 Contribution margin 700,000