Hello. I need help with question 1 part b and question 2.
Cool Car Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: (Click the icon to view the data.) The selling price per vehicle is $26,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 700 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 2017 income statements for Cool Car Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2017 income statements for Cool Car Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts.) Cool Car Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2017 are as follows: LA I Data Table ^ te the budgeted fixed manufacturing cost per unit is 700 units. There are no price, efficiency, or spending variances. Any curs. D o April May Her (a) variable costing and (b) absorption costing. Unit data: bottom portion. (Complete all Beginning inventory 100 " i Requirements Production 700 625 1 Sales 600 705 Variable costs: $ Manufacturing cost per unit produced Operating (marketing) cost per unit sold 9,500 $ 3,400 9,500 3,400 1. Prepare April and May 2017 income statements for Cool Car 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. Fixed costs: $ Manufacturing costs Operating (marketing) costs 2,100,000 $ 500,000 2,100,000 500,000 Print Print Done Done Print Done nswer. Requirement 1. Prepare April and May 2017 income statements for Cool Car Motors under (a) variable costing and (b) absorption costing. (a) Prepare April and May 2017 income statements for Cool Car Motors under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts.) April 2017 $ 15,600,000 May 2017 $ 18,330,000 Revenues Variable cost of goods sold: Beginning inventory $ 950,000 5,937,500 Variable manufacturing costs Cost of goods available for sale 0 6,650,000 6,650,000 (950,000) 6,887,500 (190,000) Deduct ending inventory Variable cost of goods sold 5,700,000 6,697,500 $ Variable cost of goods sold: Beginning inventory Variable manufacturing costs Cost of goods available for sale 950,000 5,937,500 0 6,650,000 6,650,000 (950,000) 6,887,500 (190,000) Deduct ending inventory Variable cost of goods sold 5,700,000 2,040,000 6,697,500 2,397,000 Variable operating costs Contribution margin Fixed manufacturing costs 7,860,000 2,100,000 500,000 9,235,500 2,100,000 500,000 $ 6,635,500 Fixed operating costs $ 5,260,000 Operating income
