Nascar Motors assembles and sells motor vehicles and uses standard costing. Actual data and variable costing and absorption costing income statements relating to April and May 2017 are as follows: (Click the icon to view the data.) The variable manufacturing costs per unit of Nascar Motors are as follows: : (Click the icon to view the variable manufacturing costs per unit.) Read the requirements. (Click the icon to view the variable costing income statements.) (Click the icon to view the absorption costing income statements.) Data Table Requirement 1. Prepare income statements for Nascar Motors in April and May 2017 under throughput costing. April May 6,400 6,400 Begin by completing the top portion of the statement, then the bottom portion. (Complete all answer boxes. Enter a "0" for any zero amounts.) Direct material cost per unit Direct manufacturing labor cost Manufacturing overhead cost per unit per unit 1,300 1,300 April 2017 May 2017 4,300 4,300 Revenues Print Done THI April May Unit data: Beginning inventory 0 50 Production 600 575 Sales 550 585 Variable costs: $ 12,000 $ 12,000 Manufacturing cost per unit produced Operating (marketing) cost per unit sold 3,400 3,400 Fixed costs: Manufacturing costs $ 2,400,000 $ 2,400,000 Operating (marketing) costs 550,000 550,000 The selling price per vehicle is $22,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 600 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. April 2017 May 2017 Revenues $ 12,100,000 $ 12,870,000 Variable costs: Beginning inventory $ 0 $ 600,000 6,900,000 7,200,000 Variable manufacturing costs Cost of goods available for sale 7,200,000 (600,000) 7,500,000 (480,000) Less: Ending inventory Variable cost of goods sold 6,600,000 1,870,000 7,020,000 1,989,000 Variable operating costs Total variable costs 8,470,000 9,009,000 Contribution margin 3,630,000 3,861,000 Fixed costs: Fixed manufacturing costs 2,400,000 550,000 2,400,000 550,000 Fixed operating costs Total fixed costs 2,950,000 2,950,000 $ 680.000 $ 911.000 x absorption costing income statements April 2017 May 2017 Revenues $ 12,100,000 $ 12,870,000 $ 0 $ 800,000 Cost of goods sold: Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory Adjustment for production-volume variance 7,200,000 2,400,000 6,900,000 2,300,000 9,600,000 10,000,000 (800,000) (640,000) 100,000 OU 0 8,800,000 9,460,000 3,300,000 3,410,000 Cost of goods sold Gross margin Operating costs: Variable operating costs 1,870,000 550,000 1,989,000 550,000 Fixed operating costs Total operating costs 2,420,000 2,539,000 $ 880,000 $ 871,000 Operating income
