Please complete requirement 1b. and requirement 2 thoroughly, Thank You

Cool Ride Motors assembles and sells motor vehicles and uses standard costing. Actual data relating to April and May 2018 are provided. (Click to view the data.) The selling price per vehicle is $21,000. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 500 units. There are no price, efficiency, or rate variances. Any production-volume variance is written off to COGS in the month in which it occurs. Required 1. Prepare April and May 2018 statements of comprehensive income for Cool Ride 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. April May Unit data: Beginning inventory Production 0 150 500 425 Sales 350 525 Variable costs: $ 8,500 $ 8,500 2,400 2,400 Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ 2,250,000 $ 2,250,000 700,000 700,000 Requirement 1a. Prepare April and May 2018 statements of comprehensive income for Cool Ride Motors under variable costing Complete the top half of the statement of comprehensive income for each month first, and then complete the bottom portion. (Enter a "O" for any zero balance accounts.) April 2018 May 2018 Revenue $ 7,350,000 $ 11,025,000 Variable costs: Beginning inventory $ 0 $ 1,275,000 3,612,500 4,250,000 Variable manufacturing costs Cost of goods available for sale 4,250,000 (1,275,000) 4,887,500 (425,000) Less: Ending inventory Variable cost of goods sold 2,975,000 840,000 4,462,500 1,260,000 Variable operating costs Total variable costs 3,815,000 5,722,500 Contribution margin 3,535,000 5,302,500 Fixed costs: Fixed manufacturing costs 2,250,000 2,250,000 Fixed operating costs 700,000 700,000 Total fixed costs 2,950,000 2,950,000 $ 585,000 $ 2,352,500 Operating income Requirement 1b. Prepare April and May 2018 statements of comprehensive income for Cool Ride Motors under absorption costing. Complete the top half of the statement of comprehensive income for each month first, and then complete the bottom portion. (Enter a "0" for any zero balance accounts. If an account does not have a variance, do not select a label.) April 2018 May 2018 Revenue 7350000 11025000 Cost of goods sold: 0 Beginning inventory Variable manufacturing costs 4250000 4250000 Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory Adjustment for production-volume variance Cost of goods sold Gross margin