Please answer question 2 & 3

FastRide Inc. manufactures and sells 50-inch television sets and uses standard costing. Actual data and variable costing and absorption costing statements of comprehensive income relating to January, February, and March of 2018 are as follows. (Click to view the data.) (Click to view the variable costing statements of comprehensive income.) (Click to view the absorption costing statements of comprehensive income.) The variable manufacturing costs per unit of FastRide Corporation are as follows. (Click to view the variable manufacturing costs per unit.) Required 1. Prepare operating statements of comprehensive income for January, February, and March of 2018 under throughput costing. 2. Contrast the results in requirement 1 with the absorption and variable costing statements of comprehensive income presented. 3. Give one motivation to adopt throughput costing. January 2018 February 2018 March 2018 Revenue $ 2,400,000 $ 2,960,000 $ 3,200,000 Variable direct materials costs Beginning inventory EA $ 105,000 35,000 Direct materials in goods manufactured 630,000 577,500 910,000 Cost of goods available for sale 630,000 682,500 945,000 Deduct ending inventory (105,000) (35,000 (245,000) Total variable direct materials costs 525.000 647.500 700,000 Throughput contribution 1,875,000 2,312,500 2,500,000 Other costs: Manufacturing costs 740,000 710,000 900,000 Marketing costs 586,250 686,875 730,000 Total other costs 1,326,250 1,396,875 1,630,000 $ 548,750 $ 915,625 $ 870,000 Operating income Requirement 2. Contrast the results in requirement 1 with the absorption and variable costing statements of comprehensive income presented. January February March Absorption costing Variable costing Throughput costing- X Data table January February March Unit data: Beginning inventory 0 150 50 Production 900 825 1,300 Sales 750 925 1,000 Variable costs: Manufacturing cost per unit produced $ 1,100 $ 1,100 $ 1,100 Operating (marketing) cost per unit sold 575 575 $ 575 Fixed costs: Manufacturing costs 380,000 $ 380,000 $ 380,000 Operating (marketing) costs 155,000 155,000 155,000 The selling price per unit is $3,200. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 900 units. There are no price, efficiency, or rate variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Print DoneData table Revenue Variable costs: Beginning inventory Variable manufacturing costs Cost of goods avail for sale Less: Ending inventory Variable cost of goods sold Variable operating costs Total variable costs Contribution margin Variable costs: Fixed manufacturing costs Fixed operating costs Total xed costs Operating income January 2010 February 2010 March 2010 $ 2.400.000 $ 2.900.000 0 3.200.000 0 $ 155.000 $ 55.000 090.000 00?.500 1.430.000 000.000 1.0?2.500 1.405.000 {155.000} {55.000} {305.000} 025.000 1.011500 1.100.000 431.250 531.0?5 5?5.000 1.250.250 1.540.316 1.5?5.000 1.143.?50 1.410.025 1.525.000 300.000 300.000 300.000 155.000 155.000 155.000 535.000 535.000 535.000 $ 500.?50 $ 0?5.E25 $ 090.000 Data table January 2018 February 2018 March 2018 Revenue $ 2,400,000 $ 2,960,000 $ 3,200,000 Cost of goods sold: Beginning inventory $ 0 $ 228,300 76,100 Variable miftg costs 990,000 907,500 1,430,000 Allocated fixed mitg costs 380,000 348,150 548,600 Cost of goods avail for sale 1,370,000 1,483,950 2,054,700 Less: Ending inventory (228,300) (76, 100) (532,700) Adjust for prod-volume var 0 31,850 U (168,600) F Cost of goods sold 1,141,700 1,439,700 1,353,400 Gross margin 1,258,300 1,520,300 1,846,600 Operating costs: Variable operating costs 431,250 531,875 575,000 Fixed operating costs 155,000 155,000 155,000 Total operating costs 586,250 686,875 730,000 Operating income 672,050 $ 833,425 1, 116,600Data table January February March Direct material cost per unit $ 700 $ 700 $ 700 Direct manufacturing labour cost per unit 110 110 110 Manufacturing overhead cost per unit 290 290 290 1,100 $ 1,100 $ 1,100