Nascar 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.) 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 2020 income statements for Nascar Motors under (a) variable costing and (b) absorption costing. for any zero balance accounts.) accounts. Label any variances as favorable (F) or unfavorable (U). If an account does not have a variance, do not select a label.) April 2020 May 2020 Revenues Cost of goods sold: Beginning inventory Coriable manufacturing costs Codjustment for production-volume variance ending inventory Cross margin goods sold 1. Prepare April and May 2020 income statements for Nascar 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